News

Bangladesh: Potato prices could rise above Tk 50 per kg

Fresh Common Potato
Vegetables
Bangladesh
Market & Price Trends
Published Apr 6, 2024

Tridge summary

Bangladesh is facing a significant decrease in potato production due to adverse weather conditions and premature selling by farmers, with an estimated drop of at least 20% this year. This reduction has led to a spike in potato prices, potentially exceeding Tk 50 per kg, a substantial increase from last year's Tk 15 per kg. As the third largest potato producer in Asia, this poses a supply shortage concern. The Cold Storage Association and Savor International Ltd are addressing these issues by calling for improved cold chain infrastructure and reduced import duties on related equipment, alongside announcing the Cold Chain Bangladesh 2024 Exhibition.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Adverse weather conditions are likely to cause a production drop of at least 20 per cent this year, said the association’s president Mostofa Azad Chowdhury Babu. He also said farmers selling at least 30 per cent of their potatoes prematurely further contributed to the production gap. Speaking at a press conference in Dhaka on Thursday, Mr Babu said consumers might see prices of the starchy root vegetable exceeding Tk 50 per kg. The current farm-level prices have already reached Tk 27-32 per kg, from the maximum of Tk 15 per kg last year. Potato prices are currently Tk 45 per kg in Dhaka. Prices reached a record high of Tk 70 per kg in October last year, prompting the authorities to allow potato imports for the first time. Subsequently, prices dropped as locally grown potatoes entered the market, rendering the import permits unused due to importers’ predictions of low-profit margins. In 2022, Bangladesh produced 11 million tonnes of potatoes -- making it the third largest producer ...
Source: Argenpapa
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