In Dhaka, the capital of Bangladesh, potato prices have escalated significantly, even amidst the full harvesting season. Over the past two weeks, there has been a Tk 15-20 increase per kilogram. Market analysts attribute this surge to inflation and supply chain disruptions by certain groups. Compared to the previous year, the cost of potatoes has doubled, with adverse weather, increased seed potato, and fertilizer prices being cited by businesses as the main reasons for the hike.
Currently, potatoes are selling for up to Tk 65 a kilogram, marking a substantial increase from last year's Tk 28-30. The Consumers Association of Bangladesh highlights that this price hike is not due to supply and demand issues but rather market manipulation and inflation, exacerbated by the government's delayed response. Despite an increase in potato cultivation area, premature harvesting and adverse weather have led to a projected 30% shortfall in production, according to the Bangladesh Cold Storage Association. This is expected to keep prices elevated throughout the year. Contrary to the Department of Agricultural Extension's optimistic production forecast, industry experts predict lower yields due to unfavorable weather and rising costs for seeds and fertilizers.
[ Tk 100 = €0.86 ]
Source: newagebd.net