Onion prices at the wholesale market and retail outlets have shown down trend on Wednesday after government took multiple steps including immediate import of onion to stabilise the local market.
Wholesale sellers were selling local onion at Tk 68 to 72 and Indian onion at Tk 62 to 65 on Wednesday, according to trading sources at Shyambazar, the big hub for wholesale onion.
In the retail market on Wednesday, local varieties onions were being sold at up to Tk 110 and Indian onion was being sold at Tk 95 to 100.
On Tuesday, the Indian and Burmese onion varieties were sold at Tk 110-120 a kg. The local varieties were sold at Tk 120-130 a kg.
Shahidul Islam, wholesale seller at the city’s Shyambazar, told the FE that onion price said prices of some Burmese and local varieties declined as supplies in the market increased.
Besides, traders sales onion with decreased prices as sales in the local market as onion sales was seen down trend after the price was almost double in retail market. He pointed retail traders for manipulating onion prices despite sufficient supply and export ban from India.
He predicted further market volatility unless higher imports are ensured.
Earlier, Bangladesh Tariff Commission member Shah Md Abu Raihan Alberuni told the FE that the country has 0.3 million tonnes of onion in stock to meet the demand for next two months.
Besides, substantial amounts of onion are also being imported from Myanmar and the process is underway to import from Egypt and Turkey.
