The price of potatoes has been steadily increasing in the kitchen markets of the capital city, Dhaka, amidst the peak harvesting season.

Over the past two weeks, the price of potatoes has surged by Tk 15-20 per kilogram, with market analysts attributing this rise to a combination of inflation and supply chain manipulation by vested interests.

This year has witnessed a significant spike in potato prices compared to the previous year, with the commodity being sold at double its previous price.

Businesses have cited factors such as low production due to adverse weather conditions, as well as increases in the prices of seed potatoes and fertilizers, as reasons for the price hike even during the harvesting season.

Currently, potatoes are being sold for up to Tk 60-70 per kilogram in the city markets, marking a more than twofold increase from the Tk 28-30 per kilogram price observed in April 2023.

Ghulam Rahman, President of the Consumers Association of Bangladesh, voiced concerns, stating that the price surge is not solely a result of supply and demand dynamics but rather indicative of market inflation and exploitation by certain entities manipulating the supply chain for their benefit.

Rahman emphasized the prolonged sufferings of consumers in the market, attributing them to the government’s failure to take timely measures to control inflation.

He highlighted that the sudden surge in potato prices is more likely a result of manipulation rather than a genuine imbalance in supply and demand.

Mostafa Azad Chowdhury Babu, President of the Bangladesh Cold Storage Association, pointed out that while this year witnessed a higher acreage of potato cultivation, approximately 30 per cent of the produce was harvested prematurely in January to compensate for shortages from the previous year.

Moreover, adverse weather conditions led to decreased potato production in many regions, resulting in an anticipated 30 per cent shortage this year and contributing to sustained high prices throughout the year.

Contradicting statistics provided by the Department of Agricultural Extension (DEA), Md Golam Sarour, director of the Bangladesh Cold Storage Association, asserted that potato production fell short of the government’s target in the previous year and is expected to do so again this year.

Sarour cited adverse weather conditions and significant increases in the prices of seed potatoes and fertilizers as contributing factors to the decline in production across districts, except for Jaipurhat.

Data from the Bangladesh Agricultural Research Council (BARC) indicated a demand for 95.63 lakh tonnes of potatoes in 2021, with a projected demand of 116.16 lakh tonnes by 2030.