W13 Potato Update: Ukrainian Potato Prices Dip Amid Influx of Imported Produce, and Bangladesh Braces for Potential Potato Price Surge in 2024

Imported Potatoes Drive Down Prices in Ukrainian Market

The Ukrainian market saw an influx of cheap imported new-harvest potatoes from Egypt and Azerbaijan in W12, which led to price drop for Ukrainian potatoes from the previous year's harvest. Consequently, Ukrainian potato prices in W13 dropped by an average of 12% week-on-week (WoW), ranging from USD 0.36 to 0.51/kg (UAH 14 to 20/kg). Meanwhile, newly imported potatoes from Egypt and Azerbaijan stood at USD 0.64 to 0.77/kg (UAH 25 to 30/kg). The increased availability of Ukrainian potatoes contributed to the decline. With the arrival of warmer weather, producers are eager to sell off 2023's potato stocks to focus on the ongoing sowing season. Additionally, individuals in the population are actively selling off remaining potatoes, many of which have lower quality. Despite the price decrease, potatoes in Ukraine are still priced approximately 2.5 times higher than they were during the same period in 2023.

Bangladesh Faces Potential Potato Price Surge in 2024 Amid Production Decline

The Bangladesh Cold Storage Association warns that potato prices may exceed USD 0.46/kg (BDT 50/kg) in 2024 due to a projected production decline. Adverse weather conditions are anticipated to cause a 20% YoY reduction in potato yield, exacerbated by premature selling by farmers. Farm-level potato prices have surged to USD 0.25 to 0.29/kg (BDT 27 to 32/kg), significantly higher than the previous year's peak of USD 0.14/kg. In Dhaka, prices are nearing the record high of USD 0.64/kg (BDT 70/kg) experienced in Oct-23. This price surge prompted the authorization of potato imports for the first time, although implementation was minimal due to concerns among importers about low profit margins. According to the Bangladesh Department of Agricultural Marketing, the third-largest potato producer in Asia, with 11 million metric tons (mmt) produced in 2022, faces an annual demand of 9 mmt.

Potato Harvest in Lalmonirhat District, Bangladesh, Nears Completion Amid High Demand

The Agriculture Office of Lalmonirhat district, Bangladesh, reported that the potato harvest for 2024 is currently underway in the district, with farmers nearing completion of the harvest. Farmers anticipate profitable returns from their sales. Potato traders and stockists purchased potatoes from farmers at their fields at increased prices due to high demand for storage purposes, leading to a daily increase in potato prices. During visits to various areas in Sadar upazila, it was observed that farmers are diligently harvesting potatoes.

Revival of Potato Production in Magallanes and Chilean Antarctic Region

In recent years, the Magallanes and Chilean Antarctic region has seen a remarkable resurgence in potato production, emerging as a hub of innovation and food sovereignty. This transformation is due to two programs initiated by the Agricultural Research Institute (INIA) under the Ministry of Agriculture of Chile. These programs have facilitated the establishment of the southernmost certified potato seedbed in the country, contributing to the region's agricultural development and self-sufficiency.