Potato Prices Could be Hit by a 'Volatile' Supply

A 'volatile' supply from India and a bad crop this year may lead to an increase in potato prices in Bangladesh ahead of the season approaching Bakr Eid, a media report said.

Prospects of a bad crop have sent the prices soaring by 50percent in the last one week alone. But in this alarming situation, the main beneficiaries, at the cost of the public, are the cold storage owners and hoarders, the New Age newspaper said Saturday.

'Volatile' supply from neighbouring India has added to the uncertainty and allowed free play to cold storage owners and hoarders.

Early harvested potatoes usually start arriving in the market at the beginning of November and that forces release of more stocks from hoarders and eventually push down the price.

Market observers said a good harvest last year pushed down potato price even as cold storages had built up huge stocks.