Bangladesh: Potato prices skyrocket as production slumps

Published 2024년 7월 9일

Tridge summary

Bangladesh is currently facing a potato shortage and high prices, with potatoes being more expensive than coarse and medium-quality rice. This situation is attributed to a significant production deficit and import delays due to high prices in India, the main source of imports, and heavy rainfall damage. The government has considered removing import duties to speed up imports and storage, but no action has been taken yet. The situation is expected to worsen by September or October, and potential solutions include better market management and increased production. However, the Department of Agricultural Extension maintains that there is no crisis in potato production, downplaying concerns.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Just a couple of years ago, farmers in the northern region were struggling to sell their potatoes due to low prices. Now the situation has flipped entirely, with potato prices surpassing even those of coarse and medium-quality rice. The Ministry of Agriculture attributes the price hike to a significant potato production deficit. This shortfall has made it difficult to control the market, even with potato imports. Current potato stocks are only expected to last until September, leaving a significant gap before the next harvest. Potatoes are currently selling at Tk60-65 per kg, slightly down from the recent high of Tk70. Businessmen and regulatory bodies fear the situation could worsen in the coming months. Bangladesh previously had a stable year-round potato supply through cold storage facilities and robust production exceeding demand. The country even had export ambitions. However, those plans seem pretty distant now. Import delays and production shortfall Despite government ...

Source: TBS