Potato price still sky-high

Business Report :
Despite importing from India, the price of potatoes remained high on the kitchen markets in the capital Dhaka on Tuesday.
Visiting different kitchen markets in the capital on the day, it was found that potatoes sold for Tk 60 a kilogram, Tk 24 higher than the government-set price Tk 36 at the retail level.

On September 14, the government set the prices of three commodities – eggs, potatoes and onions, for the first time, but the prices are still remained unimplemented.

Amid a surge in the prices of eggs and potatoes, the government September 18 allowed traders to import eggs and on October 30, it allowed traders to import potatoes.

The government later permitted traders to import 1 lakh tonnes of potatoes and so far, 80 tonnes imported potatoes have arrived in the country till November 4, an agriculture ministry official said.

So far, 61,950 pieces of eggs have been imported and 14,99,38,050 pieces more will be imported, according to a commerce ministry official.

The government-set price of eggs is Tk 12 each, but the item sold for Tk 12-12.50 apiece on Monday.

Locally produced onions sold for Tk 140 a kilogram, Tk 75 higher than the government-set price of Tk 65 at the retail level.
The imported onion sold for Tk 95-100 a kilogram on the day.

The Directorate of National Consumer Rights Protection has been conducting countrywide drives from the supply level to the retail level to implement the government-set prices of essential items since the price announcement.

Besides, the government also cut the customs duty on the import of sugar to Tk 1,500 -Tk 3,000 from Tk 3,000- Tk 6,000 for a tonne to improve the supply of sugar and contain the soaring prices of the essential commodity on November 1.

Onion prices at both wholesale and retail stages saw a fresh rise on October 29 following the imposition of the floor price on onion exports by the Indian government.

India set a minimum price of $800 a tonne on exports of the bulb on October 28.

Traders increased the prices of commodities, including potatoes and onions, abnormally using dollar crisis, Russia-Ukraine war and political tensions in the country as pretexts, experts said.

Besides, the prices of almost all the essential commodities have remained high on the kitchen markets in the capital Dhaka high over months.