News

Bangladesh: Price fidgets over Indian potato import procrastination

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

Tridge summary

Due to a significant surge in potato prices in Bangladesh, with costs reaching Tk 60-70 per kg, the government has allowed the import of 0.159 million tonnes of potatoes since late October 2023. However, as of March 24, only 3,150 tonnes have been imported, largely because the prices in West Bengal, a potential source, are nearly the same as in Bangladesh, offering little profit margin for importers. This situation is compounded by a decrease in local potato production, attributed to late blight disease, especially in the Rangpur and Rajshahi regions, leading to a harvest of only 9.0 million tonnes against a target of 11.6 million. The government and experts are now concerned about the potential impact on market supply and prices, which have already seen a recent increase of Tk 10-15 per kg for various potato varieties in city markets.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

One ploy is obvious from the designated importers’ side: low profit margins and the beginning of arrivals of new harvest on the domestic market. The government has given import permits (IPs) to traders to bring 0.159 million tonnes of carbohydrate-rich vegetable since the last week of October 2023 following a tectonic rise in prices of the kitchen item in Bangladesh. Potato price then shot up to Tk 60-70 a kg in a new record. It was first time that the ministry of agriculture (MoA) gave approval for potato import. However, against all IPs, importers brought a paltry amount of 3,150 tonnes of potato until March 24, data from the Plant Quarantine Wing (PQW) under the MoA revealed. PQW is the authority to certify import and export in case of all kinds of agricultural produce. A Parbatipur -based importer in Dinajpur has said potato price in West Dinajpur of West Bengal and its adjacent districts is now almost same as in Bangladesh. Excluding transportation costs and crop losses, it ...
Source: Argenpapa
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