Potato prices likely to stay subdued over the next few months
May 05, 2021
Ample stocks available, offloading of the spud begins from cold storages
Potato prices are likely to rule subdued over the next few months, though they have increased by ₹100 a quintal since a month ago as offloading of stocks in warehouses has just begun.
“Cold storages in Bengal have just opened after the elections to the State Assembly ended. So far, potatoes were coming directly from the farmers’ fields. Storages were shut due to non-availability of labour,” said Patit Paban De, potato cold storage operator and former president of West Bengal Cold Storage Association (WBCSA).
Taxman looks at startup valuations via rarely-used provision
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Synopsis
Startups that, despite losing money, sell stocks at steep premiums based on growth projections, being asked to explain valuations
ETtech
Many startups are being asked to explain their ambitious valuations by tax authorities.
Despite losing money, such closely-held businesses often sell stocks to investors at steep premiums based on growth projections. However, they may find themselves vulnerable before the taxman if the business projections go haywire or assumptions that go into pricing of shares and valuing a company appear unrealistic.
In recent months, the tax department has questioned the valuation of several startups by invoking a sparingly used feature of the law that empowers the principal commissioner or commissioner to revise the order passed by the assessing officer.
Potato prices crash 80% from November peak
February 18, 2021
Spud becomes cheaper as higher arrivals hit the market
Potato prices have crashed by about 80 per cent in various primary agricultural markets in major producer-States from a peak of ₹2,750-2,900 a quintal seen in November last year as arrivals have begun to flood the markets.
“Potato prices have fallen sharply to around ₹500 a quintal in markets such as Fatehabad due to higher production this year. Potato output is expected to be at least 20 per cent higher this year,” said Mahendra Swarup, President, Federation of Cold Storage Associations of India (FCAOI).
Prices in Uttar Pradesh agricultural produce marketing committee (APMC)
Potato prices crash 70% from November peak on higher arrivals
One reason for the sharp drop is that potato farmers went in for early cultivation to take advantage of higher prices in November. January 11, 2021 / 05:41 PM IST
Potato prices have crashed nearly 70 percent across primary agricultural markets from their peak of Rs 2,900-2,750 a quintal in the last week of November on higher arrivals.
“Prices are actually below Rs 800 a quintal in most growing regions. The new crop is higher than last year as many farmers went for the crop as prices ruled high during the sowing time,” said Patit Paban De, former president of West Bengal Cold Storage Association.