The Department of Agricultural Extension (DAE) of Bangladesh attributes the recent surge in potato prices to market management issues, while analysts point to unfavorable market conditions due to average production figures. This situation is affecting consumers the most.
Small traders in Karwan Bazar are struggling to understand the current pricing. A year ago, potatoes were priced at Tk 25-30 per kg, but this year, they're selling at Tk 40-42 per kg wholesale. Records indicate that farmers have spent Tk 14-16 per kg on potato cultivation this season, yet it's selling at three times that price wholesale. The DAE labels this price as unreasonable.
Badal Chandra Biswas, Director General of the DAE, argues that all beneficiaries are participating in market manipulation. Despite no shortage in potato production, the market management and those involved in the business need to adjust their perspective.
Over three years, potato cultivation has dropped by 70,000 hectares. However, annual potato production is on the rise. The target for the fiscal year 2023-24 is set at 116,000 tons.
Discrepancies in data from the Bangladesh Bureau of Statistics, DAE, and the Cold Storage Association make it challenging to maintain a stable market situation. Agricultural economists suggest the government develop a market management system at all levels to prevent price syndicates.
[ Tk 100 = €0.83 ]
Source: en.somoynews.tv