The decline in potato prices has been contained in West Bengal over the last one week on the back of the State Government’s decision to provide buying support.
Procurement, though, is yet to start in full swing across various districts.
Trade sources claim that the farmers are withholding stock in an anticipation of the State buying support.
According to Purnendu Bose, State Agriculture Minister, procurement has begun in some areas on Monday. It is expected to gather pace over the next two days.
“We will continue with the buying support for the next seven days before deciding on the next course of action,” he told BusinessLine.
Record crop A bumper crop - of approximately 110 lakh tonnes coupled with weak demand from neighbouring States – triggered a price crash in Bengal. This led to four farmer suicides here over the past seven days. The announcement of the procurement scheme, trade sources maintain, has, however, improved sentiments.
Under the procurement scheme, the State agri-marketing department through its shops (called ‘Sufal Bangla’) will buy potatoes from farmers at a price of ₹5/kg. It would then be sold in retail markets through various fair-price shops.