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India: Potato prices drop 80% from peak in November

Potato prices have crashed by about 80 per cent in various primary agricultural markets in major Indian producing states; they went from a peak of ₹2,750-2,900 per 100 kgs in November last year as arrivals have begun to flood the markets.

Mahendra Swarup, President, Federation of Cold Storage Associations of India (FCAOI): “Potato prices have fallen sharply to around ₹500 per 100 kgs in markets such as Fatehabad due to higher production this year. Potato output is expected to be at least 20 per cent higher this year.”

Prices in Uttar Pradesh agricultural produce marketing committee (APMC) mandis ruled between ₹550 and ₹670 per 100 kgs. In Punjab markets such as Jalandhar, prices ruled at ₹550 per 100 kgs and in Bengal, they were quoted at ₹580-600. During the same time last year, prices ruled between ₹820 and ₹900. The three states account for nearly 48 per cent of the total potato production in the country.

Thehindubusinessline.com reports that, besides paying a higher rate for seeds, labour costs are also reported to be high for growers this year. Potato prices headed south as early as January since growers went in for early cultivation to take advantage of the higher prices in November, particularly in Bengal.

[ ₹100 = €1.10 ]

Photo source: Dreamstime.com


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