The record-high production far exceeded the annual domestic demand of around 90 lakh tonnes, creating a substantial surplus and causing potato prices to plummet.
The government has decided to procure potatoes directly from farmers this year in a bid to ensure fair prices for growers amid a sharp decline in domestic rates due to higher production.
The production cost of potatoes nearly doubled this year in comparison to last year due to an increase in prices of potato seeds, fertiliser and irrigation, raising concerns about a further increase in retail prices of the tuber.
Potato prices have skyrocketed in Bangladesh amid a drop in production as farmers are increasingly turning to more profitable crops while poor weather conditions also lowered supply, according to market players.
The suffering of potato growers is increasing day by day even though their yield is high, as they are stuck with surplus stocks and low exports.
