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India traders fear short potato crop price crash by fdhjkl rfghjtkl
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India traders fear short potato crop price crash |
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Business,Business News,Business Opportunities
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In spite of an rambling stock of potato within cooled storages, the price of the goods within the futures market is big as traders watch forward towards a brief assortment next season.
At the Multi Commodity Exchange (MCX) potato charges for the Tarkeshwar flavor is poised circle Rs 450 for hundred kg for 14th March 2009 delivery, against Rs 280 for 100 kg at the very cold storages.
Moreover, final week the forenoon potato which come towards from Punjab within the Kolkata market sold at a discount, at reasonably Rs 170-180 per quintal, against the bona fide price (inclusive of transport cost) at closely Rs 225 per quintal. This is despite the detail the forenoon fruit is late via at worst some than a week this year, due towards late winter.
According within the direction of traders, the morning fruit may be short via 5-10 per cent. Usually, the morning crop, which anecdotes for 8-10 per 100 of the total potato cultivation inside West Bengal, comes in the market via November.
Cold storage holders cost comexes for unrealistically inflating prices, and warn of price crash. Against a benchmark warehouse of one lakh tonne of potato, this year the collective stock of the frosty storages is 2.75 lakh tonne. Thus, they do not foretell any drastic boost in costs for the next minor fraction months.
"There is the void one purpose that potato futures must be Rs 450 per quintal, beyond there is already an oversupply situation," remarked a cold storage owner, whoever found evident fault the changes for cost bang into final year. The say cold storage closeness had pegged the collective loss of the traders and growers affiliated with the collect at Rs 750 crore, which strengths dissuade growers towards evolve potato this year.
The highest costed that potato brought terminal year was Rs 380-400 per quintal, subsequent which the charge fell down to intimately Rs 140 per quintal, a loss of intimately Rs 70-80 per quintal for farmers.
However, lineages at MCX said, Rs 450 per quintal were musical prices, and fewer than terminal year's prices. The high costs can be attributed to conjecture of a short fruit next year, due to the grief sale of potato by farmers this year,
"At this point of instant the climatic situations are not untainted potato. While there is no impact upward on the acreage, the productivity is yet to be ascertained. The crop might be less by five per cent at least," commented said Patit Paban De of the West Bengal Cold Storage Association. Last year, potato presentation in West Bengal was 8.8 million tonnes, an inspire of practically 25 per cent afresh the last year. I am a professional writer from China Home Appliances, which contains a great deal of information about nymex heating oil , paper shredder oil, welcome to visit!
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