Potato prices plummet to Rs32/kg in Bengal as new crops enter market
Times of India | 15 December 2024
123 Kolkata: Potato prices in Bengal's retail markets have crashed, with the popular Jyoti variety now selling at Rs32 per kilogram. The sudden drop is attributed to cold storage stock clearance by traders and the influx of fresh crops from Punjab and Uttar Pradesh, which are selling at Rs35-40 per kilogram.
The availability of new potatoes has shifted consumer preference away from the older, cold-stored stocks. "Traders are worried about being stuck with unsold stock as buyers opt for fresh produce. They are now rushing to offload their inventory," revealed a market insider.
According to sources, Bengal's cold storages still hold an estimated 4.5 lakh tonne of potatoes. If this surplus remains unsold, traders could face significant financial losses. Wholesale prices for Jyoti potatoes have dropped to Rs24-25 per kilogram as shipments of fresh potatoes from Punjab's Jalandhar and Uttar Pradesh's Farrukhabad and Unna flood Kolkata's markets.
"Potatoes from other states are being sold at Rs1,100 per 50-kg sack. If the govt doesn't permit inter-state sales, traders here will suffer heavy losses," said Lalu Mukherjee, president of Paschimbanga Pragatishil Alu Byabsayee Samiti.
The plummeting prices have provided much-needed relief to consumers. "Finally, the prices are closer to what they were before the strike. It's hard to understand why the same potatoes are sold for triple the price now," said Tarun Mondal, a Kidderpore resident.
The price of potatoes skyrocketed recently, with Jyoti selling at Rs40 per kilogram and the pricier Chandramukhi variety at Rs45. This surge followed a strike by potato traders protesting the state govt's temporary ban on exports to neighbouring states. Although the strike lasted only a day, it disrupted the supply chain and inflated prices.
Agricultural marketing minister Becharam Manna defended chief minister Mamata Banerjee's decision to ban exports, stating it was meant to prioritise the interests of domestic consumers. "The CM wanted to bring potato prices below Rs30/kg since traders were releasing stocks at Rs26/kg. But middlemen drove up the prices, forcing retailers to sell at Rs35/kg. Farmers and consumers were the ones who suffered," he said.
For many households in Bengal, potatoes are a dietary staple, making price fluctuations a significant burden. "Potatoes are so integral to our food habits that even a slight price hike affects us deeply. Unlike other states, we even have potatoes in biryani," quipped economist and food blogger Gourav Bakshi.
While prices have stabilised in the domestic market, traders are urging the govt to allow inter-state sales to prevent losses. "We always comply with govt directives, but without access to other markets, traders like me will incur heavy losses," said Sukumar Samanta, a potato trader in Singur.
With Bengal's average monthly demand at five lakh tonnes and significant stock still unsold, traders fear further price drops if the situation remains unresolved.
Kolkata: Potato prices in Bengal's retail markets have crashed, with the popular Jyoti variety now selling at Rs32 per kilogram. The sudden drop is attributed to cold storage stock clearance by traders and the influx of fresh crops from Punjab and Uttar Pradesh, which are selling at Rs35-40 per kilogram.
The availability of new potatoes has shifted consumer preference away from the older, cold-stored stocks. "Traders are worried about being stuck with unsold stock as buyers opt for fresh produce. They are now rushing to offload their inventory," revealed a market insider.
According to sources, Bengal's cold storages still hold an estimated 4.5 lakh tonne of potatoes. If this surplus remains unsold, traders could face significant financial losses. Wholesale prices for Jyoti potatoes have dropped to Rs24-25 per kilogram as shipments of fresh potatoes from Punjab's Jalandhar and Uttar Pradesh's Farrukhabad and Unna flood Kolkata's markets.
"Potatoes from other states are being sold at Rs1,100 per 50-kg sack. If the govt doesn't permit inter-state sales, traders here will suffer heavy losses," said Lalu Mukherjee, president of Paschimbanga Pragatishil Alu Byabsayee Samiti.
The plummeting prices have provided much-needed relief to consumers. "Finally, the prices are closer to what they were before the strike. It's hard to understand why the same potatoes are sold for triple the price now," said Tarun Mondal, a Kidderpore resident.
The price of potatoes skyrocketed recently, with Jyoti selling at Rs40 per kilogram and the pricier Chandramukhi variety at Rs45. This surge followed a strike by potato traders protesting the state govt's temporary ban on exports to neighbouring states. Although the strike lasted only a day, it disrupted the supply chain and inflated prices.
Agricultural marketing minister Becharam Manna defended chief minister Mamata Banerjee's decision to ban exports, stating it was meant to prioritise the interests of domestic consumers. "The CM wanted to bring potato prices below Rs30/kg since traders were releasing stocks at Rs26/kg. But middlemen drove up the prices, forcing retailers to sell at Rs35/kg. Farmers and consumers were the ones who suffered," he said.
For many households in Bengal, potatoes are a dietary staple, making price fluctuations a significant burden. "Potatoes are so integral to our food habits that even a slight price hike affects us deeply. Unlike other states, we even have potatoes in biryani," quipped economist and food blogger Gourav Bakshi.
While prices have stabilised in the domestic market, traders are urging the govt to allow inter-state sales to prevent losses. "We always comply with govt directives, but without access to other markets, traders like me will incur heavy losses," said Sukumar Samanta, a potato trader in Singur.
With Bengal's average monthly demand at five lakh tonnes and significant stock still unsold, traders fear further price drops if the situation remains unresolved.
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