For the first time in recent memory, Bangladesh has seen significant potato imports during the peak harvesting season. Over 60 importers have been granted government permission to import 94,000 tons of potatoes, primarily from India. The first shipments have already arrived and have had a positive effect on the market, with prices dropping by Tk10-15 per kilogram in Dinajpur district, where the potatoes entered via the Hili port. Despite this, prices are still 110% higher than the same period last year. As more shipments arrive, prices are expected to decrease further.
This development is anticipated to stabilize the potato market ahead of Ramadan, but questions remain about the government's unusual decision. The only explanation offered thus far is the damage caused to potato crops in Rangpur and Rajshahi by cyclonic storms in October and November. However, it remains unclear how this will impact overall production and whether there will be a shortfall. The agriculture ministry has set a goal of producing 11.6 million tons of potatoes on 4.6 million hectares of land, with the country's demand standing at 10 million tons.
Last year, the country produced 10.4 million tons, exceeding the demand, raising questions about the need for the recent imports. The Bangladesh Cold Storage Association (BCSA) claims that last year's production was actually 9.0 million tons. The government's pre-emptive move may only be successful if it is accompanied by rigorous market monitoring and supervision.
[ Tk100 = €0.85 ]
Source: today.thefinancialexpress.com.bd