Onion price soars in Dhaka city markets


FE REPORT | Published: October 08, 2021 08:49:43 | Updated: October 08, 2021 15:22:16


Onion price soars in Dhaka city markets

The price of onion shot up substantially in the city markets on Thursday allegedly due to short supply of the widely consumed spice item.

Traders claimed that the supplies from domestic sources and through imports have dropped significantly in the recent time, pushing up the prices.

The local variety of onion was selling at Tk 70-75 per Kg in the city's kitchen markets on Thursday which was Tk 10-15 higher than that of the previous two days - Wednesday and Tuesday last.

The price averaged only at Tk 45 per kg a week ago.

When asked, the retailers only repeated their usual excuse and said they had to purchase it from the wholesalers at a high rate that compelled them to sell the item also at a higher rate.

Abdul Jalil, a retailer at Motijheel AGB Colony kitchen market, informed that he had to purchase the local variety of onion at Tk 65 per kg from Farashganj wholesale market on the day.

The wholesalers at the market have blamed short supply of the local variety of onion mainly from the growing hub of Pabna and Natore and Rajshahi.

Abdul Qader, a wholesaler, said their prices for local varieties of onion ranged between Tk 60 and Tk 65 per kg on Thursday as compared to Tk 43-45 last week. They also sold the Indian variety between Tk 50 and Tk 52 per kg which was between Tk 35 and Tk 45 last week.

An importer, who preferred not to be named, told the FE that a short supply of imported onion in recent days might have caused the discomfort in the local market.

He, however, expected the import to increase in the next few days, contributing to reduce the price in the local market.

The consumers have expressed their frustrations as onion is one more item added in list of essential commodities those have already witnessed a hike in the recent days.

They urged the government to intensify its monitoring of the market to help prevent the unscrupulous traders from making unethical profits by selling onion at irrationally higher prices.

They also suggested increasing the open market sale (truck-sale) of the state-run Trading Corporation of Bangladesh (TCB) in the capital.

"We are already exhausted due to the high prices of other essential commodities. We want the government to take immediate measures to check artificial price hikes and protect the consumers," Rabeya Akter, a private service holder, told the FE at Shantinagar kitchen market.

A high official at the Ministry of Commerce, who deals with TCB affairs, said they will likely ask the TCB to consider increasing the volume of onion for OMS by its dealers.

talhabinhabib@yahoo.com

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