Price of potato increased by nearly 50 per cent just in a week as a section of cold storage owners and hoarders manipulated supply, market sources said.
They said hoarders were cashing on the fear that supply of early harvested potato would be very poor due to untimely rains during depression in the Bay two weeks back that damaged potato plants in the northern districts.
Price of coarse rice however declined in the week as cheaper OMS supply reduced demand in the market and hoarders were releasing more rice stocks with Aman harvest round the corner.
Price of soya bean oil increased as winter is set to raise its demand while vegetables prices remained high due to tight supply.
At Nayatola bazar in the city on Friday, per kilogram of Holland variety potato retailed between Tk 22 and Tk 24, up from Tk 16-18 a week ago and Tk 15-Tk 16 in the previous week.
Traders at Shaymbazar told New Age that rains corroded roots of growing potatoes in many areas of Rangpur, Panchagar and Thakurgaon causing market fears that supply of early harvested potatoes would remain very poor this year.
Early harvested potatoes usually start arriving in the market at the beginning of November and that forces release of more stocks from hoarders and eventually push down price.
Market observers said a good harvest last year pushed down potato price while cold storages had built up huge stocks. But due to frequent and longer load shedding some stocks in cold storages were rotten.
‘The situation has not reached that level that there is no potato, but cashing on fears of poor supply in next few weeks, cold storage owners and hoarders are making windfall profits,’ said a wholesaler at Karwan Bazar.
He also said that market has also been volatile as supply of potatoes from India through formal and informal routes remained almost nil.
Declined by at least Tk 1 per kilogram in a week, coarse rice retailed between Tk 32 and Tk 34 on Friday as its price declined at wholesaler market.
‘OMS of rice at Tk 24 per kilogram and reports on more deliveries by the government have made impacts on the market,’ said Praddut Sarker, a rice trader in Dinajpur.
At Phulhut trading station in Dinajpur, coarse rice on Friday traded at Tk 29.80 to Tk 30.5 per kilogram, down by Tk 1 in a week.
Up by Tk 2 per kilogram in a week, non-packed soya bean retailed between Tk 94 and Tk 96 on Friday as traders said its price had increased with the advent of winter.
Soya bean sales rise in winter as consumers reject palm oil, blurred by lowering temperature.
Vegetables prices remained high in the week as supply of leafy vegetables and early harvested winter vegetables was short due to damage caused by rains two weeks back.
Prices of meat, fish, sugar, spices and pulse remained somewhat unchanged on the retail market over the week.
