The prices of potato, long considered a cheap vegetable, have now risen beyond the reach of the poor.
This year, potato prices have increased to such an extent that it has broken all previous records.
Potatoes are now being sold at Tk 70- 75 per kg in the retail market of Dhaka. The potato market has been volatile for almost two/ three months.
On Wednesday, while inaugurating the sale of potatoes and other products by the Trading Corporation of Bangladesh (TCB), Commerce Advisor Sheikh Bashiruddin pointed out that syndicates are a problem in terms of imports.
A few large companies import consumer goods including edible oil and sugar.
They import goods from countries where importing goods is convenient for their business. As a result, consumers have to pay higher prices.
Such a hazy situation regarding potato production, coupled with the government’s lack of action in keeping the supply of potatoes normal in the market, has created opportunities for price manipulation by traders.
Almost all consumer goods produced in the country or imported from abroad are now under the control of syndicates. A group of traders and stockholders form syndicates for the products produced in the country.
Thus, potato farmers are forced to sell potatoes to cold storage owners at a low price at the beginning of the season.
According to media reports, traders in Rangpur buy potatoes from farmers at Tk 23 per kg and store them in cold storage.
They spend Tk 8 and 10 paisa per kg on buying sacks, transportation, labour costs and cold storage rent. In total, traders spend Tk 31 and 10 paisa per kg.
However, those potatoes are now being sold in the retail market for Tk 70-75 per kg. The price of potatoes has increased dramatically, putting ordinary buyers in trouble.
However, cold storage owners, wholesale traders and some general buyers said that the profit- hungry syndicates, that is the potato stockists in cold storage, are responsible for the excessive increase in potato prices.
Consumers complain that the price of potatoes has skyrocketed because the government has not taken any action against the profit-hungry syndicates.
It should be remembered that the prices of products can not be reduced by just monitoring.
If the government increases the supply in the market on its own initiative, the price of potatoes will automatically come down.
