In India, erratic rainfall last November has led to a decrease in potato yield, resulting in a sharp increase in prices. The Department of Consumer Affairs reported that the retail price for potatoes reached Rs 26 per kg, marking a 10.18% rise month-on-month and a 32% increase year-on-year. Wholesale prices also saw a significant uptick to Rs 1,944 per 100 kgs, which is 11.44% higher than the previous month and 33.18% above last year's figures.
Major producing states such as Uttar Pradesh and West Bengal have experienced a drop in output, according to local potato traders. A trader from Uttar Pradesh noted: "The loading in cold storage is reported to be 10-12% lower at present," attributing the decline to reduced production and farmers' reluctance to sell their stock, anticipating further price increases. The expectation of sustained high prices is linked to a forecasted dip in overall yield for the year. The Agriculture Ministry's initial estimate for 2023-24 predicts potato production to decrease to approximately 58.99 million tons from 60.14 million tons the previous year.
[ Rs 100 = €1.10 ]
Source: economictimes.indiatimes.com