In response to escalating potato prices, the Bangladesh Cold Storage Association (BCSA) has proposed to the government the annual procurement and preservation of one million tonnes of potatoes. This strategy aims to stabilize prices and prevent artificial inflation of this staple food item. The suggestion comes amidst rising stored potato prices, now at approximately USD 0.94 a kg, marking a significant increase from previous records.
The BCSA highlights the necessity of this procurement for maintaining prices within a reasonable range, especially considering the seasonal price surge observed from August each year. By distributing a quarter million tons monthly during peak demand, the association believes price stability can be achieved, benefiting consumers.
The proposal outlines the Trading Corporation of Bangladesh as the procurement agent, with storage facilitated across various cold storage facilities nationwide. This approach is anticipated to ensure fair pricing during high-demand periods. Additionally, the current market scenario, with cold storage potato prices reaching up to USD 0.82 a kg, underscores the urgency of addressing the supply-demand imbalance.
Concerns over seed availability have also been raised, with the Bangladesh Agricultural Development Corporation (BADC) reporting a demand-supply gap in potato seeds, further complicating the market dynamics. The BCSA and economists call for an increase in potato production to mitigate these challenges and ensure affordable access to potatoes for the public.
Source: The Financial Express