Potatoes not being released in markets as prices drop | 2017-09-27 | daily-sun.com

Potatoes not being released in markets as prices drop

UNB     27th September, 2017 11:46:58 printer

Potatoes not being released in markets as prices drop

The growers and traders in Rangpur reluctant to release their potatoes they stocked in different cold storages in fear of loss due to depression in prices in the markets.


They apprehended that they would have to incur a huge loss of around Tk 400 per sack of potato by selling at the current market rate.


A grower of Zorindha in the northern city said that he stored some 100 sacks of potatoes in a cold storage during the season with a hope of making good profit. Now, he is unwilling to release it fearing of loss due to sudden fall of its price in the markets.


Mostafizur Rahman, a potato trader in the same area, who stocked 1,000 sacks of potatoes in cold storages, also reluctant to sell in the market for the same reason.


"I have to count loss of Tk 380 -Tk 400 per sack of potato by selling it at the present market price," he said.


According to potato farmers, it costs Tk 80,000 to Tk 90,000 per acre of land to grow potato.


The total cost of a sack of potato stands between Tk 1,200 and Tk 1,300 including production, preservation and transportation costs but it is now being sold at Tk 800 in the markets, they said.


The growers and traders in the region generally release their 60 - 70 percent potatoes from their stocks by September but this year only 20 percent potatoes have so far been released, said the owners of cold storages.


Mostofa Azad Chowdhury Babu, member of the Bangladesh Cold Storage Owners Association, said the growers and traders are reluctant to release potatoes from cold storages due to its price fall in the markets.


He, however, expressed hope that potato market would be normal in the next one month, otherwise, cold storage owners would have to incur huge losses.