Govt permits import of 50,000-tonne potato

The government on Wednesday issued permits to 70 traders for import of 50,000 tonnes of potato, as its prices soared to an all-time high level.
The stored diamante and cardinal varieties retailed at Tk 60-70 a kilogram on the day, as wayward consumer market pays little heed to interventions.
Traders' excessive profit-making tendency, confusing government data on production and lack of market regulation have made the kitchen market most volatile, with potatoes and onions braking records, said experts.
According to the Trading Corporation of Bangladesh (TCB), the previous record was made in 2020 when stored potatoes hit Tk 55-65 a kg in Dhaka.
The government has, however, permitted potato import to bridle the bucks. The Ministry of Agriculture (MoA) has given import permit (IP) to 70 traders to bring 50,000 tonnes of potatoes, officials said.
However, small-sized carage variety of stored potato made a further quantum leap selling at Tk 80-85 a kg on the day.
The TCB recorded a 30-40-percent hike in prices in a week, and the current price is 109-percent higher than last year's.
The agriculture ministry, despite its acclamation of a 2.0-million-tonne surplus production, gave the import permits to 70 traders.
Agriculture Minister Dr Muhammad Abdur Razzaque said cold-storage owners and their allied traders hoarded potatoes and raised prices "at their sweet will". And to rein in prices, the government approved import.
Bangladesh Cold Storage Association president Mostafa Azad Babu said storage owners hardly stored 4.0 per cent of potatoes which they revealed to the commerce ministry, the MoA and law-enforcing agencies much earlier.
He said the MoA data showed 2.5 million tonnes of potato stored in the country's cold storages in March-April period.
The MoA data showed with production of 11 million tonnes, and exporters sending 32,000 tonnes, farmers and traders should have above 8.0 million tonnes of potatoes.
He said, "November is the crucial month for cold-storage owners and traders who try to clear out the cold storage to prepare for next season's trade."
He urged the MoA to provide authentic data of production in time which only could minimise problems.
The association leader claimed traders hardly could import potato amid a rising cost in the globe as well as hardship of sourcing US dollar.
Farm economist Prof Dr M A Jalil holds both the government and the traders responsible for such hike in prices.
He said, "The government failed to give proper data on production while traders raise prices at will amid lack of monitoring and rational punishment."
However, according to MoA, the potato production was 11.1 million tonnes in the last season while BBS count put the output at 10.4 million tonnes. And BCSA says production was a maximum of 8.5 million tonnes in the year.
Meanwhile, local variety of onions were selling at up to Tk 140 a kg, while imported tubes brought at cut-down duties sold as high as Tk 120-130 per kilo.
Vegetable prices also rose sharply, with sellers claiming supply-chain disruption amid the political unrest caused by hartal and blockade over election issues.

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