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Pratim Ranjan Bose

Spot prices ruling at around Rs 500

Kolkata , Nov. 2

After two-week period of volatility, the price of Bengal potato (quoted as Tarkeswar Potato) is showing signs of stability at the Multi Commodity Exchange.

From Rs 490 per quintal on October 18, the November contract of Bengal potato prices on MCX shot up to Rs 574 on October 31.

The prices since then have started falling and are now ruling at Rs 528. Spot prices are ruling at around Rs 500 per quintal.

There is a fear that huge stockpile at the State's cold storages, which will go on annual maintenance on November 30, fall in demand in Bihar and expected arrivals from Punjab and Karnataka within the next two weeks, might lead to a crash in prices even before the new crop hits the market in December-January.

Cold storages

Sources said the State cold storages still had 27-30 per cent stock, which would be released in the market during this month.

While delay in arrivals of produce from Punjab was giving some resistance to prices so far, reduced demand for Bengal potato in Bihar — one of the major consuming States — is expected to create tremendous pressure on prices in the future.

The pressure could be further intensified if the produce from Karnataka arrives in the next two weeks.

According to the latest information, arrivals are also expected from Punjab, shortly. Punjab is a major supplier of seeds to Bengal.

Substantial correction

According to informed circles, an early trend of the fall has set in Delhi and Mumbai markets where substantial correction in potato prices took place today.

In Agra Mandi, spot prices have already come down sharply from the peak of Rs 1,000 per quintal. The peak was attained during the transporters strike.

The ongoing March contract for the Agra 3797 variety closed at Rs 555 on November 1 down from Rs 602 on October 30 at the MCX.

More Stories on : Horticulture/Fruits & Vegetables | West Bengal

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