As India gears up for the summer, there's an expectation of declining potato prices following a recent hike to Rs 24-25 per kilogram due to various factors. Analysts predict a decrease in potato rates, attributed to normal rabi season supplies. In mid-March, the Jyoti variety experienced a 30-40 per cent price surge, influenced by production shortages and labor unavailability during festivals like Holi. By Thursday, prices had adjusted to approximately Rs 10.75 per kilogram in the national capital.
Wholesale prices are also expected to soften from the current Rs 15-18 per kilogram, with anticipations of a rise in the subsequent months. The early arrival of the new crop since January is credited for the price reduction, as explained by Tushar Agarwal, Head of Agrawal Research.
Agarwal highlighted that potato prices typically decrease until April, with a potential increase to Rs 30 per kilogram in May from the March prices of Rs 15-18 per kilogram.
[ Rs 100 = €1.10 ]
Source: zeebiz.com