NEWS & EVENTS

As the 2024 Auction Season comes to a close, we are pleased to report the successful facilitation of 15,489.97 metric tons (MT) of agricultural produce through our auction process. Of this, 10,93253 MT comprised potatoes, and 3,01.31 MT included vegetables. Despite a reduction of 6,766.13 MT in the overall quantity of goods auctioned compared to last year-primarily due to a 8,330.83 MT decline in potato auctions caused by increased activity from private traders. On the other hand, the season brought remarkable achievements in terms of pricing. Farmers fetched a record-high price of Nu. 67.40 per kilogram of potatoes at our Phuentsholing auction yard, a significant increase that has doubled their earnings compared to the previous year. Additionally, vegetable exports increased by 621.31 MT, highlighting a positive trend in production and expanding market opportunities for Bhutanese produce. One of the most critical factors driving the higher prices of our Bhutanese potatoes has been the timing. Delivering potatoes to the auction yards at the right time and capitalizing on the optimal export window have proven essential in achieving favorable rates. The surge in price this season was also due to the demand of Bhutanese potato seeds, renowned for their quality due to a poor potato harvest in India. Every year, ahead of the export season, FCBL officials conduct awareness programs in various potato-growing regions across the country. These programs aim to remind farmers to bring their potatoes for auction at the most opportune time-when market demand and supply conditions are favorable-ensuring they secure the best possible prices. As we conclude the auction season, we extend our gratitude to our dedicated farmers, traders, and our auction team at our auction yards. We also sincerely thank the Ministry of Agriculture and Forests (MoAF), the Department of Agriculture and Marketing Cooperatives (DAMC), the Bhutan Food and Drug Authority (BFDA), the Regional Revenue and Customs Office, the Immigration Office, and all other stakeholders for their support and collaboration throughout the season. With teamwork, innovation, and our shared commitment to excellence, we look ahead with renewed hope and determination for a better auction season next year.