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Potato prices have declined by up to 57 per cent in the past one month, after several months at an elevated level, due to increased arrivals of the new crop.
Data compiled by the Nashik-based National Horticulture Research and Development Foundation (NHRDF) showed a steep decline in the price across major wholesale markets in the north and northeastern states in the past month. By contrast, spot mandis in the south saw a marginal increase.
In the Delhi mandi, the fall was 52 per cent to Rs 1,162 a quintal on Monday as compared to Rs 2,425 a qtl a month earlier. “Harvesting of rabi season potato has started and is gradually picking up. Supply has started coming from Uttar Pradesh, Punjab and Haryana, in addition to all other regions. Therefore, prices have started softening. The trend is likely to continue for at least a couple of more weeks,” said R P Gupta, director of NHRDF.
By contrast, increasing dependence on the north and northeastern markets and receding local supply has kept prices elevated in the south. In Bengaluru, it has risen by Rs 100 a qtl in major mandis. “The new crop has started hitting the market from major producing states like Maharashtra, Punjab and Haryana. Once the new season crop supply starts from the northern markets to the south, prices will also decline in these markets,” said a city-based trader.
Daily arrival of the new crop at Agra has jumped to 14,500 qtls from 10,000 earlier. In Mumbai, fresh arrivals shot up to 15,840 qtls from 8,480 qtls.
The third advance estimates of the Union ministry of agriculture put output at 44.31 million tonnes in 2013-14 as compared to 45.34 mt the previous year.
