Government of Bengal Looks to Potato Futures to Salvage Demand
The Mamata Banerjee authorities is searching for the monetary yield on potato crop in 2018 after a sturdy output this yr despatched expenses well below value of production for a giant range of farmers within the kingdom.
Pradip Mazumdar, agriculture marketing consultant to the West Bengal leader minister, stated: “production has been higher this yr because of beneficial weather situations. also, farmers had got better prices in 2016, prompting them to sow extra of the potato crop. To help farmers with higher costs, the state authorities has held a spherical of talks with NCDEX to discover ways to introduce futures in potatoes.
West Bengal said a 22% soar in potato manufacturing at 110 lakh tonnes in 2016-17, leading to a fee crash. costs had been as little as Rs 2.40 in line with kg at the farm-gate stage against a cost of production of Rs 4.5 - 5 according to kg.
Even as the government is making an attempt to rope inside the NCDEX, farmers are in all likelihood to deliver down acreage for subsequent yr by means of more than 5%. The potato crop is grown over 4.62 lakh hectares in West Bengal, which is the country’s second-largest manufacturer of the vegetable. Patit Paban De, president, West Bengal cold garage association said a 5th of the crop loaded in bloodless storages remained unused. This yr, cold storages had loaded 70 lakh tonnes of potatoes.
De said no matter cold storage's having massive stock, farmers have commenced shopping for potato seeds from Punjab as those are to be had at half the rate. “there's a glut in production in Punjab. they're promoting a 50-kg bag of potato at Rs 700 -800 against Rs 1,400 in 2016.”
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Pradip Mazumdar, agriculture marketing consultant to the West Bengal leader minister, stated: “production has been higher this yr because of beneficial weather situations. also, farmers had got better prices in 2016, prompting them to sow extra of the potato crop. To help farmers with higher costs, the state authorities has held a spherical of talks with NCDEX to discover ways to introduce futures in potatoes.
West Bengal said a 22% soar in potato manufacturing at 110 lakh tonnes in 2016-17, leading to a fee crash. costs had been as little as Rs 2.40 in line with kg at the farm-gate stage against a cost of production of Rs 4.5 - 5 according to kg.
Even as the government is making an attempt to rope inside the NCDEX, farmers are in all likelihood to deliver down acreage for subsequent yr by means of more than 5%. The potato crop is grown over 4.62 lakh hectares in West Bengal, which is the country’s second-largest manufacturer of the vegetable. Patit Paban De, president, West Bengal cold garage association said a 5th of the crop loaded in bloodless storages remained unused. This yr, cold storages had loaded 70 lakh tonnes of potatoes.
De said no matter cold storage's having massive stock, farmers have commenced shopping for potato seeds from Punjab as those are to be had at half the rate. “there's a glut in production in Punjab. they're promoting a 50-kg bag of potato at Rs 700 -800 against Rs 1,400 in 2016.”
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