The government has decided to allow importing potato observing the recent trend in rising price of the essential commodity. Currently the retail price of potato in the local markets show a 300 percent increase per kilogram against its price about a week ago.
The emergency decision was taken by the Commerce Ministry in a bid to keep the price of potato under control and meet the growing demand among the local consumers.
The government announced its decision on Monday (October 30). The decision was officially communicated through a notification issued by the Ministry of Commerce.
called upon the importers to submit their applications for permission to import potato.
The government said that there is no valid ground in the price hike of potato and so it decided to import potato to check the rising trend in price hike.
The price of potato has risen by at least Tk. 45-50 per kilogram in Dhaka city and other parts of the country in recent weeks. The current price of potato in the retail markets is between Tk 60 and 70 that marks the highest maximum retail price of potato recorded in the recent past.
About the permission given by the Ministry of Commerce, public relations officer of the ministry Md Haider Ali said that the government has decided to import potato considering the current market situation as well as to increase the supply of potato in the local wholesale markets and also to keep the market price of potato stable.
“Although the production and supply of potato in the country is sufficient, the government has decided to import the potato as the food item being sold at abnormal prices in the markets without any rationale,” he mentioned in a press release.
The interested importers and potato traders have been requested to apply in this regard, says the press release.
The price of potato has soared in recent times. The price of potatoes has risen to between Tk 60 and 70 per kg this week, Tk. 10 more than last week, despite the government's fixed rate of Tk. 35-36 per kg.
On September 14, the ministry had set the maximum retail prices of potato at Tk. 36-55 per kg. However, traders are instructed to sell potato at between Tk 26 and 27 at cold storage level. Despite such step, potato traders are defying the government orders.
Meanwhile, Commerce Minister Tipu Munshi at the time had directed the his ministry, Directorate of National Consumer Rights Protection, district administration and other related organisations to monitor whether potato is being sold in the market at the fixed price. However, it is reported that potato is are not being sold at any stage in cold storage and retail at the fixed price.
Besides, it is being observed that some quarters are engaged in destabilizing the potato market. Under such circumstances, the ministry took the decision, says the press release issued by the Ministry of Commerce.
Related data of the Department of Agricultural Extension (DAE) showed that the maximum demand of potato in the country is 90 lakh metric tonnes whereas the potato yield reached 1.12 crore metric tonnes last fiscal year (FY23).
