Photo : Collected
Even before the season ends, potato prices are rising sharply. Within a week, potato prices have increased by Tk 10 to 15 per kg. Traders and cold storage owners fear that potato prices may rise further.
They believe potato prices will rise for two reasons. One is that this year, traders and cold storage owners are buying potatoes from farmers at three times the price compared to 2023. So, they will sell the potatoes bought at higher prices at higher rates.
The second reason is that to get higher prices, farmers sold immature potatoes in the market before the start of the season this year. As a result, potato production has decreased by 20 to 30 percent from the target for 2024. They fear that potato prices will rise further mainly due to these two reasons.
According to the Ministry of Commerce, the annual demand for potatoes in the country is 80,000 to 85,000 metric tonnes. According to the Bangladesh Bureau of Statistics, 1.4 crore metric tonnes of potatoes were produced in the fiscal year 2023 to meet the demand. According to the Ministry of Agriculture, 1.12 crore metric tonnes of potatoes were produced. In that case, production exceeded demand. Yet, there was a potato crisis last year, causing prices to rise. This year too, production has exceeded demand, but prices are still rising.
Meanwhile, a visit to various markets in the capital found potatoes being sold at Tk 50 per kg. Just a week ago, the same potatoes were sold at Tk 35 to 40 per kg. Jamir Uddin, a trader at Rampura Bazar, said, “Within two days, potato prices have increased by Tk 10 per kg. Now we are selling at Tk 50 per kg, and as days go by, potato prices will rise further.” He cited buying potatoes at higher prices from the warehouses as the reason.
Ranjit Barman, a farmer from Panchagarh's Debidwar, told The Daily Messenger that this year they are selling potatoes in the field at Tk 25 to 28 per kg. Last year, they sold at Tk 10 to 12 per kg. This year's higher prices have brought good profits, which is pleasing to them.
The Daily Messenger's Munshiganj correspondent Shubha Ghosh informed that this year, farmers are selling potatoes in the field at double the price of last year. Each maund (around 37 kg) of potatoes is being sold at Tk 1,100. Just two days ago, it was sold at Tk 1,000.
When asked about this, Mostafa Azad Chowdhury, President of the Bangladesh Cold Storage Association (BCSA), said that this year, farmers are getting good prices for potatoes. Last year, potato prices ranged from Tk 8 to 12. This year, farmers sold potatoes at higher prices, i.e., Tk 25-30 per kg. Since potatoes were bought at higher prices and stored in cold storages, potato prices will be higher this year.
He added that this year, consumers will have to buy potatoes at more than Tk 50 per kg. This year, at the start of the season, potato prices were very high in the market. To get higher profits, farmers harvested potatoes before they were fully mature. As a result, almost 30 percent of potatoes were harvested early; this will be a loss. Therefore, potatoes will need to be imported again this year. Already, 1,000 metric tons of potatoes have been imported due to the demand from potato chips companies.
Mostafa Azad Chowdhury informed that due to the impact of climate change, natural disasters, and diseases, potato production has decreased by at least 20 percent this year. At the same time, to get good prices, farmers have harvested and sold at least 30 percent of potatoes in the market due to the crisis and market instability. In Munshiganj's cold storages, 30 percent fewer potatoes were stored this year, while in places like Thakurgaon and Rangpur, 10-20 percent fewer potatoes were stored. That is why potatoes will have to be consumed at higher prices this year.
It is worth mentioning that last year, there was a sudden potato crisis in the market. Potatoes that were being sold at Tk 25 per kg saw their prices rise to Tk 70 to 80 per kg. To address the potato shortage, the government imported potatoes, but the crisis did not subside. And now, potato prices are rising again.
Messenger/Fameema
