According to the Trading Corporation of Bangladesh (TCB), the retail market is experiencing a 73 per cent increase in potato prices compared to last year, with the cost reaching Tk 40 per kg during the peak season. Cold storage traders anticipate a further 25 per cent hike in prices by the season's end due to higher storage costs this year.
The Directorate of Agriculture Marketing (DAM) reports that wholesale prices in Dhaka's markets were between Tk 30-35 per kg, a significant rise from last year's Tk 13-15 per kg. Retail prices have similarly escalated to Tk 38-40 per kg from the previous year's Tk 20-25.
Mostafa Azad Chowdhury Babu, President of the Bangladesh Cold Storage Association (BCSA), highlighted at a press conference that despite the high market price, farmers are receiving fair compensation for their produce. However, an early harvest prompted by the prospect of higher profits has resulted in about a 30 per cent shortfall in potato production, necessitating imports to fulfill demand, notably for potato chip manufacturers, with 1,000 tonnes already imported.
[ Tk100 = €0.84 ]
Source: businesspostbd.com