The Bangladesh Cold Storage Association has raised concerns about a potential rise in potato prices for consumers, estimating that prices could surpass Tk50 per kg this year due to low production levels. Last year, potatoes stored in cold storage facilities were purchased for Tk8-12 per kg, while the current stored potatoes are being acquired from farmers at Tk25-30 per kg, indicating a significant price hike when these stocks enter the market.
President of the Bangladesh Cold Storage Association addressed these issues during a recent press event held in Paltan, where he highlighted the current market rate of Tk45 per kg for potatoes in Dhaka. Factors such as climate change, natural disasters, and diseases have contributed to a 20% decline in potato production this year. Additionally, financial instability and market fluctuations have led farmers to harvest and sell approximately 30% of their potatoes early to capitalize on favorable pricing.
Cold storage facilities in Munshiganj have stored 30% fewer potatoes this year, with other regions like Thakurgaon and Rangpur also reporting a decrease in stored quantities ranging from 10-20%. Despite the presence of over 400 cold storage units in the country for potato storage, industry stakeholders are considering expanding storage capabilities to include other products like onions, tomatoes, carrots, meat, and dates to bolster food security.
To facilitate these expansions and ensure profitability, industry leaders are advocating for low-interest capital support from the government. The importance was emphasised on accessing loans with reduced interest rates to encourage investment in the sector, proposing rates as low as 3-4% through the Bangladesh Bank or external funding sources.
Furthermore, discussions are underway regarding the potential repurposing of cold storage chambers for specific perishable goods like onions, necessitating further investments and governmental backing. The upcoming three-day exhibition organized by the Bangladesh Cold Storage Association and Saver International Limited aims to shed light on the pivotal role of cold storage in the supply chain, showcasing various technological advancements in the field. Scheduled for 16 to 18 May at the ICCB in Bashundhara, the event will provide insights into the evolving landscape of cold storage practices and innovations.
