Potato Prices Surge following decline in supply

top-news

Consumers in Navi Mumbai are feeling the pinch as potato prices soar due to a decrease in arrivals from both within and outside the state. The Mumbai Agricultural Produce Market Committee's (MAPMC ) onion-potato market has witnessed a notable hike in potato prices attributed to the dwindling supply.

At the Vashi wholesale market, where onion prices have stabilized, potato rates have surged to Rs. 20 to Rs. 25 per kilogram, compared to the usual range of Rs. 10 to Rs. 15 per kilogram. Retail prices have surged even further, reaching Rs. 30 per kilogram.

Traders state that the recent spike in potato prices is likely to be temporary. However, the decrease in arrivals has created a significant gap between supply and demand, driving prices upward.

Last year's price surge in garlic prompted many farmers to switch crops, opting to plant garlic instead of potatoes. Consequently, potato production has declined, further exacerbating the supply shortage. Farmers are now fetching favourable prices for potatoes in local markets, diverting much of the produce away from larger markets like Mumbai.

Traditionally, MAPMC market receives a steady supply of potatoes from states like Madhya Pradesh and Uttar Pradesh. However, the recent decrease in arrivals has seen only 50 carts of potatoes entering the market daily, compared to the usual 70 to 80 trucks. This shortfall in supply has failed to meet the daily demand, leading to the price hike.

While consumers may bear the brunt of the current price surge, traders anticipate that rates will stabilize once supply levels return to normal.

image

Follow Us

Sign up for the Newsletter