As of September 16, 2023, potato prices have reached an all-time high, with retail market rates soaring by nearly 15% in the past month. Currently, potatoes are being sold for 45 to 50 Bangladeshi Taka per kilogram, starkly contrasting the government’s announced price of 35-36 Taka per kilogram. This surge in potato prices comes despite a good potato harvest of 10.4 million tons in the country, as the Ministry of Agriculture reported, which has even increased the production target for the next year by 40,000 tons.
However, discrepancies in production and demand calculations persist, with estimates ranging from 8 to 9 million tons, contributing to market instability. This price surge is further exacerbated by the convergence of rice, wheat, and potato prices in recent weeks, adversely impacting the food expenses of the economically disadvantaged. The rise in potato prices has profoundly impacted the population’s food consumption habits, particularly among the poor, who have increasingly turned to potatoes due to escalating rice and wheat costs. The World Food Programme’s surveys indicate that as of June, potato prices ranged from 20 to 30 Bangladeshi Taka per kilogram, while the prices of rice and wheat had been steadily rising.
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