Potato imports through the Hili Land Port in Dinajpur are increasing. A total of 1,853 tons of potatoes arrived via 74 trucks on Saturday, marking the highest single-day import through this port. As a result, the prices of potato at the port are gradually decreasing.
The increased supply reduced potato prices by Tk 4 per kg. Potatoes were being sold at the port at Tk 55 Tk 57 per kg on friday. However, the price now went down to Tk 51 To Tk 53 per Kg. Port officials expect prices to decrease further.
Earlier, a total of 1,818 tons of potatoes arrived from India in 71 trucks on last Thursday.
Sources from the port said Granola (white) and Cardinal (red) varieties of potatoes are being imported from India. Prior to the recent import surge, from October 2 to October 6, a total of 3,305 tons of potatoes arrived from India in 125 trucks through this port.
Saiful Islam, a potato importer at the Hili land port, stated, we imported 50 tonnes of potatoes from India through Hili land port on Thursday. We are selling the Granola variety at Tk 49 to Tk 50 per kg and the Cardinal variety at Tk 54 taka per kg. There is currently a shortage of potatoes in the domestic market. A potato imports from India were lower compared to the high demand in the country, the price was high. However, if the amount of potato import from India continues at the same level for the next four to five days, the price per of potato is expected to drop by about Tk 10 per kg.
The price of potatoes became unstable due to a sudden shortage of domestic supply. To maintain reasonable prices and a stable supply, the government reduced the import duty on potatoes from 25 percent to 15 percent and removed the regulatory duty on September 5. However, imports did not start immediately.
Imports began last week as domestic prices soared. Initially, two to three trucks arrived daily, but this soon increased to 10 to 20 trucks. The Diamond and Cardinal varieties of potatoes are being imported through the port.
Ayub Hossain, a buyer at the Hili land port, noted that when imports started a few days ago, potatoes were being sold at Tk 48 per kg. After a few days, prices rose to Tk 50 per kg, and then to Tk 52 per kg. Eventually, the price surged to Tk 55 to 57 per kg. This sudden increase in prices caused problems, but the recent heavy import volume reduced the price by Tk 4 per kg, making it more affordable for buyers and beneficial for sending to wholesale markets with reduced capital requirements.
Potato importer Anwar Hossain explained that the government reduced import duties in September to maintain a stable supply and control prices. However, due to limited demand, imports from India did not start then. Now, with rising prices and high demand, importers have resumed imports to stabilize the supply and control prices. However, high prices in India are limiting the volume of imports.
Another importer, Sahabul Islam, said that increased demand and shortage in the domestic market boosted potato imports. Initially, only two to three trucks of potatoes were imported daily, with the cost of around Tk 46 per kg, and they were sold at the port at Tk 47 to Tk 48 per kg. Due to high demand, all importers are now bringing in larger quantities, which contributed to the recent price drop.
Revenue Officer Shafiul Alam of the Hili Land Port Customs Station said that potato imports have increased compared to before. As potatoes are perishable goods, they are cleared the same day they arrive from India and enter the port. Last Thursday, 1,818 tons of potatoes were imported through the port.
