In November, unexpected rains wreaked havoc on West Bengal’s Potato crop, forcing farmers to replant in December 2023. However, their efforts were obstructed again in April 2024 when rains damaged the mature crops, driving potato prices to ₹1,944 per quintal. Join us today as we delve into the intricate details of this agricultural crisis in our latest blog post.

Why are potato prices increasing?

The soaring price of Potatoes, surpassing ₹26 per kilogram in many areas, reflects a stark reality: demand has outpaced supply. Last November’s untimely rains damaged potato crops, drastically reducing the yield. This shortage is a primary driver of the escalating prices. According to reports, the average price surged to ₹26 per kilogram in April 2024, a significant leap from the previous month’s ₹20 per kilogram. In Odisha, the situation is even more dire, with potatoes commanding a steep ₹30 per kilogram, placing a heavy burden on households struggling to afford this essential staple.

Potato price in wholesale market

On April 13, 2024, potatoes were selling at a wholesale price of ₹1,944 per 100 kg. This was 11.44% more than the month before. Over the year, the price of potatoes increased by 33.18%. The reason for the price hike is that Uttar Pradesh and West Bengal, the two states that grow the most potatoes, had less production. Potato sellers in Uttar Pradesh disclosed that they were storing 10–12% fewer potatoes in cold storage. With limited supply, farmers held onto their potatoes, anticipating further price hikes.

Potato price hike due to low production

Traders believe that potato prices are likely to remain high due to anticipated lower production this year. According to the first advance estimate by the Ministry of Agriculture for 2023–24, potato production is expected to decrease from last year’s 60.14 million tonnes to 58.99 million tonnes this year.

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