Cold storage owners have sought long-term loan rescheduling facility for their survival.
Otherwise, the industry might face serious consequences and many cold storage owners would be forced to close down their business gradually, industry insiders said.
A large unsold stock of potato -- 1.5 million tonnes -- still remains in different cold storage, which is mainly the reason behind the losses the Cold storage owners are counting this year.
Farmers have produced about 10 million tonnes of potato this year while the demand is 8.5million tonnes.
Contacted, acting president of Bangladesh Cold Storage Association (BCSA) Dr Qamrul Hussain Chowdhury said, "We have sent a letter to the finance ministry seeking loan rescheduling facility for the cold storage owners."
He also expressed the hope that the government will take necessary steps in this regard.
If such facility is not provided, the cold storage owners would have no alternative but to shut down their business gradually, he added.
Cold storage owners, farmers and small potato traders incurred losses totalling around Tk 125.15 billion due to the slump in potato prices last year, said Dr Chowdhury.
And it is quite impossible for them to recoup the losses, he mentioned.
Farmers have invested Tk 1,500 for the preservation of a sack of potato (80 kg) in the cold storage, which is now selling at Tk 700.
This situation has also forced the cold storage owners to reduce the rent to Tk 250 from Tk 400 per sack, causing huge losses for them, according to BCSA.
The farmers' losses will stand at Tk 61.31 billion due to its low prices, said Dr Chowdhury.
And the losses incurred by cold storage owners will reach Tk 63.78 billion, he added.
There are about 416 cold storage facilities across the country and their combined capacity is 5.6 million tonnes of potatoes.
"Our survival is now at stake. So, we are desperately seeking loan rescheduling facility. We can only survive if the government extends such facility to us," said a cold storage owner.
Referring to the letter, Dr Chowdhury said that the association has sought 20 years' time to pay back the outstanding loans.
"The government has been requested to transfer the entire outstanding project and cash credit loans of the cold storage owners for a two-year moratorium period (from December 31, 2017) and fix the loan repayment period for 20 years."
In that case, the loan repayment period would be counted after December 31, 2019, he added.
The cold storage owners also proposed fixing a 5.0 per cent interest rate on loans for setting up cold storage facilities and on the outstanding loans.
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