As India approaches the summer season, there is a forecast of declining potato prices following a recent increase to Rs 24-25 per kilogram due to various market dynamics. Analysts are predicting a decrease in potato rates, primarily driven by normal rabi season supplies. In mid-March, the Jyoti variety witnessed a significant price surge of 30-40 percent, influenced by production shortages and labor challenges during festive periods like Holi. As of 4th April 2024, prices had stabilized at approximately Rs 10.75 per kilogram in the national capital.
The wholesale prices are also expected to soften from the current Rs 15-18 per kilogram, with expectations of a potential increase in the coming months. The early onset of the new crop starting from January is seen as a contributing factor to the price adjustment, as highlighted by Tushar Agarwal, the Head of Agrawal Research.
Agarwal noted that historically, potato prices tend to decrease until April, with a projected rise to Rs 30 per kilogram in May from the March price range of Rs 15-18 per kilogram. As the market dynamics continue to evolve, stakeholders are closely monitoring the potato price trends as summer approaches, anticipating further adjustments in the pricing landscape.
Anticipated Drop in Potato Prices as India Prepares for Summer
