Agriculture Minister Abdur Razzaque on Tuesday stated that the surge in potato prices is a result of inadequate control over the syndicate, and criticised the local administration for its failure in regulating it.
“Despite efforts by the local administration, they were unsuccessful,” he said while speaking as the chief guest at a seminar organised on the occasion of inauguration of the new Press Building and Dhaka Regional Office of Agricultural Information Service in the capital.
Within a span of two or three days, the retail price of potatoes escalated by Tk 20 per kg, reaching Tk 70 per kg from Tk 50 per kg two weeks ago. In response, the government authorised the import of potatoes on October 30 to alleviate the price hike.
Earlier on September 14, the government had set the price of potatoes at Tk 36 per kg at the retail level.
“The steep rise in potato prices lacked justification. Despite the government's efforts and supervision of prices at the district level, achieving complete de-syndication was not feasible, resulting in a substantial price hike,” the minister said.
He added, “The government has worked to regulate the syndicate through local administration but has not completely successful as the syndicate cycle has inflated the prices.”
Razzaque said, “At present, the import of potatoes is permitted. Prices will decrease within 15 days. Apart from that new potatoes will be available in the market within a month. We are sorry for the previous challenges faced by people due to price increases.”
Ministry of Agriculture Additional Secretary Ruhul Amin Talukder chair the event while Agriculture Extension Department Director General Badal Chandra Biswas, and Bangladesh Agricultural Research Council Chairman Sheikh Mohammad Bakhtiar was present as special guests.
