Bizdata Insights Main Logo

BizData Insights

Potato Crisis Hits Bogura Market

Industry: Agriculture & Livestock, Agro

In Bogura district, there is a crisis in market despite the significant surplus of potatoes. Overproduction of potatoes, totaling 1,224,342 metric tons from 53,215 hectares of land, far exceeds the demand of 200,000 metric tons for the local population of 3.7 million. There are 41 cold storage facilities with a capacity of 374,629 metric tons.

However, this surplus has led to hoarding by three potato wholesalers who are currently facing legal action. They had collectively stored 3,000 sacks (equivalent to 180,000 kg) of potatoes in cold storage, incurring a cost of BDT 23 per kg, and subsequently sold them at prices ranging from BDT 27 to 35 per kg. In the Rajabazar market, potatoes are wholesaled at BDT 36 per kg, but retail prices have surged to BDT 40-52 per kg. Despite government-set prices, enforcing them on businesses remains challenging, causing instability in potato prices. The surplus and price fluctuations call for a strategic resolution to ensure a steady potato market.

Source for more details:

Related News

Urea Import Faces Uncertainty Due to LC Issues

July 18, 2024

Urea fertiliser imports in Bangladesh are facing challenges as banks struggle to secure dollars for opening letters of credit (LCs). The Bangladesh Chemical Industries Corporation (BCIC), responsible for supplying urea, has had its LC applications frequently rejected due to a dollar shortage.

Expanding Crab Farming in Bangladesh Could Boost Exports

July 18, 2024

Experts at a Dhaka workshop emphasized that expanding crab farming in Bangladesh could significantly boost export earnings, given the rising global demand for crabs. The event, organized under the Resilient Homestead and Livelihood Support to the Vulnerable Coastal People of Bangladesh (RHL) project and funded by the Green Climate Fund (GCF), highlighted the economic benefits for coastal communities and stressed the need for increased research and collaboration between government and non-government sectors.

Prime Bank Partners with Syngenta for Distributor Financing

July 18, 2024

Prime Bank PLC has signed a Memorandum of Understanding (MoU) with Syngenta Bangladesh Limited to offer mortgage-free overdraft loans to Syngenta’s distributors. The agreement enables distributors to access up to BDT 1 crore in financing.

ACC Files Case Against Officials and Sadeeq Agro for Brahman Cattle Issues

July 18, 2024

The Anti-Corruption Commission (ACC) filed a legal action against six government officials and Md Imran Hossain, the owner of Sadeeq Agro, for corruption and violations regarding the sale and import of cattle of the Brahman breed, which are banned in Bangladesh. There they have 2 parties who have committed violations. 

Banks Disburse Tk 30,104 Crore in Farm Loans

July 16, 2024

In the first ten months of FY24, Bangladeshi banks disbursed Tk 30,104 crore in agricultural loans, achieving 86% of the annual target of Tk 35,000 crore. This target represents a 13.6% increase from the previous fiscal year. Loan recoveries reached Tk 28,949 crore, marking a 7.66% year-on-year increase.

Annual Agricultural Imports Reach 87 Million Tons

July 14, 2024

The import dependency on food grains in the country remains high, exacerbated by inconsistencies in production and demand, and systemic weaknesses. In the fiscal year 2023-24, imports included 87.12 million tons of various food and agricultural products, down from 91.55 million tons in the previous year.

Related News

Urea Import Faces Uncertainty Due to LC Issues

July 18, 2024

Urea fertiliser imports in Bangladesh are facing challenges as banks struggle to secure dollars for opening letters of credit (LCs). The Bangladesh Chemical Industries Corporation (BCIC), responsible for supplying urea, has had its LC applications frequently rejected due to a dollar shortage.

Expanding Crab Farming in Bangladesh Could Boost Exports

July 18, 2024

Experts at a Dhaka workshop emphasized that expanding crab farming in Bangladesh could significantly boost export earnings, given the rising global demand for crabs. The event, organized under the Resilient Homestead and Livelihood Support to the Vulnerable Coastal People of Bangladesh (RHL) project and funded by the Green Climate Fund (GCF), highlighted the economic benefits for coastal communities and stressed the need for increased research and collaboration between government and non-government sectors.

Prime Bank Partners with Syngenta for Distributor Financing

July 18, 2024

Prime Bank PLC has signed a Memorandum of Understanding (MoU) with Syngenta Bangladesh Limited to offer mortgage-free overdraft loans to Syngenta’s distributors. The agreement enables distributors to access up to BDT 1 crore in financing.

ACC Files Case Against Officials and Sadeeq Agro for Brahman Cattle Issues

July 18, 2024

The Anti-Corruption Commission (ACC) filed a legal action against six government officials and Md Imran Hossain, the owner of Sadeeq Agro, for corruption and violations regarding the sale and import of cattle of the Brahman breed, which are banned in Bangladesh. There they have 2 parties who have committed violations. 

Banks Disburse Tk 30,104 Crore in Farm Loans

July 16, 2024

In the first ten months of FY24, Bangladeshi banks disbursed Tk 30,104 crore in agricultural loans, achieving 86% of the annual target of Tk 35,000 crore. This target represents a 13.6% increase from the previous fiscal year. Loan recoveries reached Tk 28,949 crore, marking a 7.66% year-on-year increase.

Annual Agricultural Imports Reach 87 Million Tons

July 14, 2024

The import dependency on food grains in the country remains high, exacerbated by inconsistencies in production and demand, and systemic weaknesses. In the fiscal year 2023-24, imports included 87.12 million tons of various food and agricultural products, down from 91.55 million tons in the previous year.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here