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Bangladesh increases potato import stations as prices drop and surplus grows

The National Board of Revenue (NBR) has expanded the number of customs stations for potato imports from Nepal and Bhutan to diversify supply sources. This decision increases the total to nine stations, including Rohonpur, Sonahat, Dhanua Kamalpur, Nakugaon, Gobrakura, Karaitoli, Tamabil, Zakiganj, and Sheola, supplementing the existing four stations. This adjustment is temporary and set to expire in March.

Market dynamics saw a sharp rise in potato prices to a peak of Tk 80 (approximately $0.93) per kilogram, prompting this initiative. However, the current market scenario shows a drastic price drop, with potatoes selling at Tk 13 (around $0.15) per kilogram in fields and Tk 15 (approximately $0.17) at retail, leading to concerns over potential losses for farmers amidst a surplus production.

Azizul Islam, a farmers' association leader from Dinajpur, criticized the timing of the imports, pointing out the adverse impact on local farmers due to the significant production surplus. He called for an immediate cessation of imports and for government intervention to support farmers' earnings.

The decision to open new import routes was a response to a business sector request made during a period of high prices, according to Kazi Mostafizur Rahman, an NBR official. The processing of this request took around 20-22 days due to the required vetting. The agricultural sector has seen an expansion in potato cultivation, reaching a record 521,000 hectares, with an annual demand of 850,000 to 900,000 tons and production of around 1.06 million tons. In the fiscal year 2023-24, Bangladesh imported 150,000 tons of potatoes from India.

Source: The Daily Star

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