The Bangladesh Cold Storage Association (BCSA) is formally requesting the government to immediately stop to the import of potatoes in order so as to prevent financial loss for local agriculturists. The request was made via an email to the ministry of commerce on January 22 as communicated through BCSA the president Mostofa Azad Chowdhury Babu. The letter highlighted an impressive increase in the area of potato cultivation in the year to date by 50 with a forecast of a growth rate up to 12 million tonnes before 2025.

The current market conditions have seen the retail price of potatoes drop to $0.15 or $0.16 per kilo, which is below the cost of production range of $0.21 to $0.23 and putting an enormous financial burden on the farmers. BCSA warns that BCSA warns that additional imports might exacerbate this decline, causing a decrease in potato production by farmers. The issue is triggered by the decision of the Revenue Board’s National recent move to boost potato imports from Nepal as well as Bhutan by increasing the amount of customs points between four and thirteen up to March.

The policy change was originally demanded by traders due to a rise in prices for potatoes that reached $0.93 per kilogram during December. It was a few months before the seasonally-driven decline in stocks prior to the April-February harvest season. But, as domestic prices are dropping as well, a continuation of the import-related policy could cause significant losses to farmers amidst the bumper harvest. Bangladesh’s demand for potato is estimated to be 8.5 up to 9.3 million tonnes per year, with annual production surpassing 10.6 million tonnes. In the previous fiscal year, potatoes being imported at 150,000 tonnes from India.

Source: City News Dhaka