Potato price rises in Kalai for traders’ manipulation

Saud Talukder, Kalai (Joypurhat)

Potato prices have increased in Kalai Upazila of the district due to market manipulation by traders, according to local market experts.

At the beginning of the potato season this year, 15,33,283 bags of potatoes (per bag weighing 65 kg) were stored in 10 cold storages. The period of withdrawal of reserved potatoes will expire by the end of next November. Now the farmers don’t have any potato stock in their houses. Hence, the limited supply of potatoes from cold storage is now available in the market. As the supply is less than the demand, the price of potato is increasing.

While visiting on the spot, it was known that Kalai Upazila cold storages still have sufficient stock of potatoes. Traders and hoarders are not selling potatoes in the hope of higher profit. The common buyers are victims of potato price manipulation after onion, green chilli, ginger and garlic. A month ago, per kg Asterix, Cardinal and Diamond varieties of potatoes was retailed at Tk 30 in various markets of Kalai, which is now selling at Tk 40. The Tk 40 per kg Pakri variety of potato is now selling at Tk 55.

Retailers say that potatoes are not meeting the market demand as traders do not sell potatoes from cold storage. As a result, the price has increased by Tk 10 to Tk 15 per kg in different markets of Kalai within a month. At present, per bag Asterix, Diamond and Cardinal potatoes is selling at Tk 1,750 in the cold storage, and Pakri variety is selling at Tk 2,300. In other words, each trader profited Tk 600 to 800 per bag in just four to six months of storage.

Mahbub Hossain, a potato trader of Verendi Village in the upazila, said, “I can’t send a truckload of potatoes to Dhaka even in three or four days. Despite the demand, potatoes are not available. Traders are not selling potatoes stored in cold storage after seeing the rise in the market.”

Saidur Rahman, a potato trader of Molamgari Haat in Kalai, said, “I had to count losses for the past three years by storing potatoes. Then none of us came to inquire. This time everyone started shouting as the price of potatoes is a little higher. But the price of other vegetables in the market is also high. No one is complaining about that.”

Mithu Fakir, a potato trader of Punat Haat in Kalai, said, “This time I have stored 6,600 bags of Asterix, Diamond, Cardinal and Lal Pakri varieties in some local cold storages. Among them, 1,800 bags of potatoes were sold. Another 4,800 bags are stored. I have stopped selling potatoes now with the hope of further price hike.”

Babu Mia, a potato trader of Panchshira Haat in Kalai Town area, said, “At the beginning of the season, I kept 3,000 bags of potatoes in the cold storage. Two days ago, I sold 250 bags of Cardinal potatoes at the price of Tk 1,750. There are still 2,750 bags of potatoes in stock. Now I will not sell potatoes.”

Ashok Kumar, a retailer at Kalai Town Kitchen Market, said, “A month ago I bought per bag of potatoes weighing 60 kg of Asterix, Diamond and Cardinal varieties at Tk 1,420 to Tk 1,430. It cost Tk 23.50 per kg. Besides, Tk 2 drops due to transportation cost, rotting and drying. Overall, potatoes were sold in the retail market at Tk 30 per kg.”

“At present, one bag of potato has to be bought at Tk 1,750 to Tk 1,800. There is sufficient stock of potatoes in the freezer. Still potatoes are not available in the wholesale market. Potatoes can be obtained by paying more than Tk 20 to 30 per bag. Even after the increase in price, the same amount of profit remains. What if we the retailers don’t benefit from this, the hoarders are benefiting.”

Molamgari North Pole Cold Storage Manager Manowar Hosen said, “In most of the upazila’s cold storages, traders stock potatoes more than farmers. This time I did not fail. Potatoes have suffered losses for the past three years. Traders are expecting more profit as the market is good this time. So at this moment traders are not selling potatoes. Potatoes are being sold from cold storages at a slow pace every day.”

Upazila Agriculture Officer Arun Kumar Roy said, “About 40,000 metric tons of potatoes have been sold in the last few months after storing 1.65 lakh metric tons of potatoes in 10 cold storages of the upazila. There are still plenty of potatoes in stock. As such, the price of potatoes should not be so high. We are monitoring the market. Action will be taken if the traders try to increase the price by syndicate.”