Cold storage- Potato rates to drop if the West Bengal State government. Doesn’t extend the time limit for release of the entire stock from cold storage.
Potato prices in West Bengal, which has come down by nearly. ₹4-5 a kg over the last fortnight, is likely to come down further if the State government . Does not extend the time limit for release of the entire stock from cold storage.
The wholesale potato price in the State is currently ruling at around ₹11-12 a kg. As compared with ₹15-16 a kg at end of October and early November. Cold storages usually enter into a contract for keeping the tuber till November 30. This is of each year and the rent is arrived at on the basis of that. The State government decides to extend the date depending on the stock situation.
The potato prices had gone up during the festive season due to a surge in demand and poor release. From cold storage due to the unavailability of labourers. The State government stepped in and issued a notification asking farmers . Traders to release the entire stock from cold storage by November 30 . So as to prevent people from hoarding potatoes.
According to Patit Paban De, former president of West Bengal Cold Storage Association. This brought down prices by nearly ₹4-5 a kg in the last fortnight.
“Close to 23-24 per cent of the stock is still left behind in cold storage. As compared with close to 20 per cent during the usual year. We expect this to come down to close to 16-17 per cent by the end of this month. If the State government does not allow an extension in the time period. And if the remaining potatoes were to be taken out from cold storages by November 30. hen the tuber will get rotten and the prices will crash,”
Sowing in West Bengal has also been delayed due to untimely rain and this is likely to lead to some delay in the arrival of new crops. So the current stock would be used up in December and early January.
Sowing in Uttar Pradesh has also been delayed due to rains. “In some of the markets such as Farukkhabad and Kannauj, the early crop has also been spoilt due to heavy rains,” said Arvind Agarwal, President of Uttar Pradesh Cold Storage Association.
image credits: unsplash
Stay tuned with Artifex.news for further updates.