The second shipment of 976 tons of potatoes has arrived from India for domestic consumption in Bangladesh, amid government efforts to ease the price. On Thursday, seven trucks carrying 180 tons of potatoes entered the country through the Hilly Land port. For this reason, the prices of potato dropped at different markets. Indian potato is being sold at Tk 31 to 33 per kilogram at wholesale hilly markets.
Retailer Md Ashraf Ali said the potato prices in the hilly market dropped by Tk 5 per kg after Indian potatoes reached the country. The sweet potato is now being sold at Tk 55 instead of Tk 60 at many places, particularly in Dhaka city.
‘Governmental steps to curb potato price to leave little impact'
The government's measures to reign in potato prices may be beneficial in the short-run, but it will not leave any lasting impact on the market, according to Mostafa Azad Chowdhury Babu, president of the Bangladesh Cold Storage Association.
"It is right that the government allowed potato imports. This is because if supply increases, then the price will come down," he said in a recent interview. However, Babu claimed that even though buyers are willing to pay up to Tk 40 per kg for potatoes in cold storage, the government is forcing farmers and traders to sell the crop at Tk 27.
"So, many famers and traders have stopped selling their potatoes," he said, adding that restricting product prices in this manner goes against the country's ideals as a free market economy.
[ Tk 100 = €0.86 ]
Source: thefinancialexpress.com.bd