Despite an excess in potato yield, prices in Bangladesh's domestic market have seen a steady increase, impacting consumers, particularly those from lower-income groups. The country produced 10.6 million tonnes of potatoes last season, ranking it as the third most consumed agricultural product. However, with a 20-percent estimated production loss, the market's net supply is approximately 8.48 million tonnes. This, against a national annual requirement of about 8.1 million tonnes, suggests a surplus of around 0.38 million tonnes.
Even with this surplus, retail prices have oscillated between Tk 60 and Tk 70 per kg. A recent reduction to Tk 60 per kg, following a tax cut on imports by the interim government, aimed at stabilizing prices amidst inflation exceeding 10 percent. Dr. Md Abu Zafar Al Munsur from the Department of Agricultural Extension (DAE) emphasized that the current production aligns with the annual demand, based on a per capita daily consumption of 130 grams.
Price fluctuations are apparent, with costs peaking at Tk 56 per kg during the September-December 2023 period, before dropping to Tk 29 per kg by February after the harvest. The DAE, BBS, and SPARSO collaborate to determine production statistics, with the estimated per capita consumption being higher than previous reports due to industrial and non-human uses.
Discrepancies in population data have been highlighted as a potential issue affecting these figures. The government's response to the price surge included importing 0.53 million tonnes of potatoes in the past fiscal year, though this had minimal impact on prices. Critiques of BBS data accuracy have prompted a review of data production methods.
Farmers have faced a 75-percent increase in seed prices, affecting production costs. Despite the surplus, high domestic prices have hindered potato exports, leading to losses in foreign currency earnings. The government and related agencies are working to address these challenges and stabilize the potato market in Bangladesh.
Source: The Financial Express