The Bangladesh Cold Storage Association has issued a warning that potato prices in Bangladesh could surpass Tk 50 per kg later this year, attributing the potential increase to a forecasted decline in production. According to the Association's president, Mostofa Azad Chowdhury Babu, adverse weather conditions are expected to result in at least a 20% reduction in this year's potato yield. Additionally, the premature sale of potatoes by farmers, accounting for roughly 30% of the produce, is anticipated to exacerbate the shortfall in production.
During a press conference in Dhaka, Babu highlighted that the current farm-level potato prices have escalated to Tk 27-32 per kg, a significant rise from last year's peak of Tk 15 per kg. In Dhaka, prices have already reached Tk 45 per kg, nearing the record high of Tk 70 per kg experienced in October of the previous year. This spike in prices had led to the authorization of potato imports for the first time, although the measure saw minimal implementation due to importers' concerns over low-profit margins. Bangladesh, having produced 11 million tonnes of potatoes in 2022 and ranking as the third-largest producer in Asia, faces an annual demand of 9 million tonnes, as estimated by the Department of Agricultural Marketing.
[ Tk 100 = €0.84 ]
Source: today.thefinancialexpress.com.bd