India: Punjab potato prices soar
Wholesale prices of potato have surged to Rs 350 ($7US) per 50 kg bag from Rs 250 about 20 days back, traders said. Significantly, in the month of February this year, potato rates were hovering around just Rs 170 per bag, not a price sufficient for farmers to even recover their costs.
Trader, Rinku Aggarwal, said that further rises were expected before the end of the month, by Rs25-50 per bag.
The rise in demand is from other states, whilst the weather locally has meant lower outputs.
"Punjab alone has seen 30-35 per cent drop in output this year (February-March) because of unfavourable weather conditions. Moreover, production in major producing states, including Uttar Pradesh and West Bengal has also not been good that has led to increase in rates," Confederation of Potato Seed Farmers' Association, President, S S Bhatti said.
"Farmers from states like West Bengal, Gujarat, etc. are booking seed potatoes at price varying between Rs 10 and Rs 15 a kg as they apprehend shortage of seed at the time of sowing," he said.
Source: ibnlive.in.com
