Potato Price Manipulation Sparks Government Action in Bangladesh's Joypurhat District During W39
Fresh Common Potato
Vegetables
Bangladesh
Regulation & Compliances
Market & Price Trends
Pauline Fay Enriquez
Published Sep 29, 2023
In Bangladesh's Joypurhat district, 19 cold storages hold 80 thousand metric tons (mt) of potatoes, with 40 thousand mt of local demand. However, unscrupulous traders are artificially inflating prices by creating a market shortage. The Ministry of Commerce has set fixed prices for potatoes, with wholesale prices between USD 0.24 to 0.25 per kilogram (BDT 26 to 27/kg) and a maximum retail price of USD 0.32 to 0.33/kg (BDT 35 to 36/kg). During W39, three potato traders were fined for selling potatoes at high prices, leading to an artificial potato crisis. Different potato varieties, such as Jam potato, are sold at prices higher than the government's fixed rates. Retail vegetable traders need help to sell potatoes at lower prices due to higher procurement costs. The government will take legal action against those not complying with government instructions under the Agricultural Marketing Act.
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