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20 January, 2020 00:00 00 AM / LAST MODIFIED: 20 January, 2020 01:42:33 AM
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Onion price finally below Tk 100 a kg

STAFF REPORTER, Dhaka

After much ado about the skyrocketing prices of onion, consumers of the essential kitchen item seem to have a respite at long last as the prices have finally come down below the magical mark of Tk 100. Consumers continued to suffer successively for around four months when the onion prices shot up abnormally to Tk 270 braving all speculations over the crunch situation. While visiting different kitchen markets including Karwan Bazar yesterday, it was found that the local variety of onion was being offered at Tk 100 a kg and the newly-harvested murikata variety of local onion at Tk 110 per kg. Besides, the  imported varieties went for Tk 60-70 per kg. However, a palla (5 kg) of local onion was seen offered at Tk 450. Traders said the prices decreased by Tk 10-25 per kg on the day compared to the previous day. The price came down to as low as Tk 100 (local) and Tk 60 (imported) for the two varieties after fresh harvest of local onions and the imported ones hit the market, said the traders.

According to the Trading Corporation of Bangladesh (TCB) data, prices of local onions were sold at Tk 100-110 with the imported ones being sold at Tk 60-110. Vendors said they were selling locally-grown new onions at Tk 100-110 per kg and the imported ones at Tk 60-70.

While talking to The Independent, vendors said they bought onion at a lower price of Tk 10-20 in the wholesale market compared to the price a day ago. Sometimes, they said, wholesalers hike the price when there is a shortage of enough onions in the markets.

However, available data show that the prices of local onions jumped to Tk 250 a kg in the country's kitchen markets (as of November last year) – thereby registering a hike by up to Tk 227 per kg, although The Independent found some retail shops selling local varieties of onions at Tk 280 a kg.

Sources in the commerce ministry said after Indian authorities reportedly fell in trouble with its huge stock of onions imported from other countries to meet local demand, they tried to export the same to Bangladesh. But the Bangladesh government on Thursday cleared its stance over Indian request to import their surplus stock of onions saying that Bangladesh currently has no intention of importing the kitchen item from India.

Following the declaration of Bangladesh government, the price of onion has started to come down, said the sources.

Media reports say India imported about 18,000 tonnes of onion from different countries. Thus, India’s imported onion is being stockpiled at Mumbai seaport and the Indian government is currently trying to export the lot to Bangladesh to avoid losses.

Sources said the Indian government has already requested the Bangladesh High Commissioner in New Delhi to import onion from the country.

Commerce Minister Tipu Munshi said the government has no intention to purchase onion from India right now.

He said the country has already imported huge quantity of onion from other countries following a ban in India on onion export. Besides, he said, local onion is currently being harvested and thus the country does not need further import.

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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