Potato prices have fallen by more than 50 percent this year. The condition is that farmers are finding it difficult to even recover the cost. This is the reason why they are hesitant to take potatoes out of cold storage till the prices rise.
In West Bengal, potato prices have fallen by more than 50 percent during the last two months. The main reason for this fall in potato prices is the excess production like in Uttar Pradesh, Gujarat and Bengal. The wholesale price of Jyoti variety potatoes has come down to Rs 500 to 550 per quintal. In the beginning of June this year, this price was at Rs 1,000-1,100 per quintal.
On a year-on-year basis, there is a decline of about 62 percent in prices. Last year till the beginning of August, the price of potato was at Rs 1,300-1,400 per quintal.
Potato prices:selling below cost
According to Patit Paban Dey, former president of the West Bengal Cold Storage Association, at present the prices of potatoes are much less than the cost. Apart from this, farmers also have to pay storage expenses. The average expenditure on potato production and additional cost to the farmers is sitting at Rs 700 per quintal. Looking at the price below the cost, these farmers are now looking cautious. They are now holding their stock and waiting that they will sell only when the prices increase. This will help them to recover their cost at least.
Less potatoes removed from cold storage than last year
Till the end of July, only 30 per cent of potatoes have been extracted from cold storage. Normally around 33 to 34 per cent of potatoes are taken out of cold stores by this time. Potato production has increased in most of the states, that is why there is more stock than required in the market. Now due to low prices, farmers are not taking their stock in the market.
16 percent more production in Bengal alone
This year, potato production in West Bengal has increased by about 16 per cent to 110 lakh tonnes. In the last year i.e. 2020, about 95 lakh tonnes of potatoes have been produced here. This year 71 lakh tonnes of potatoes have been kept in cold storage, whereas last year only 5.5 million tonnes of potatoes were kept in cold storage. Bengal has a total of 400 cold storages, with a total storage capacity of 7 million tonnes.
Potato prices are expected to remain low this year
By this time last year, 38 per cent of potatoes had been removed from cold storage. Till this time last year, there was good demand for potatoes in the market. But due to low demand and low prices in the year, very few potatoes have been taken out from cold storage. It is expected that the prices will remain low this year as well.
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