The potato market continues to face tumultuous fluctuations, with prices surging to 48-55 Taka per kilogram, far exceeding the actual production cost of 11-12 Taka per kilogram. Despite the government’s recent effort to cap prices at 35-36 Taka per kilogram, wholesale and local markets remain unaffected, as the control of the market lies in the hands of cold storage owners, traders, and businessmen.
The potato production in the country reached 10,436,736 tons in the current year(2023), a notable increase from the previous fiscal years, yet exports have declined significantly. With approximately 1.6 million tons of potatoes stored in cold storage, stakeholders emphasize that the market’s instability is orchestrated by those who control storage, demanding stronger monitoring and governmental intervention. While farmers grapple with selling their produce for as low as 9-12 Taka per kilogram during the harvest season, cold storage costs add an additional 5-6 Taka per kilogram to their expenses. The situation persists despite an abundant supply of potatoes, leading to calls for government-controlled storage similar to rice.
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