Due to potato stocks depleting rapidly, the retail price of spuds rose sharply by 39%. Each kilo was sold for USD0.25 to USD0.32 in Dhaka markets these days, whereas it was USD0.18 to USD0.23 a month ago, according to the Trading Corporation of Bangladesh.
According to traders and farmers, cited by The Daily Star, they attributed the price rise to fields cultivated earlier this season being damaged by flash floods amid incessant rain last month alongside depletion of stocks kept in cold storages.
Following numerous days of rain, flash floods occurred between October 19- October 21 across several northern districts, including Rangpur, Nilphamari, Lalmonirhat, and Gaibandha. Hence, fast-growing potato varieties planted early in the season and numerous other crops in the region were lost.
That’s why, potato cultivation in the northern region has been delayed by about 20 days, taking into account that it would take more than one-and-a-half months for newly cultivated potatoes to reach the market.
Meanwhile, potato stocks kept in the cold storage for sale in this difficult period are running out. This depleting stock and damage to the fast-growing variety are the reasons behind the potato price hike.
Bangladesh Cold Storage Association estimated that growers and traders stored 5,5m tons of potato this year to sell during the lean season.
Of the quantity, roughly 1m tons will be used as seed and the rest for consumption.
