Onion prices remain high

Prices of all types of onions remained high at markets in the capital and across the country on Wednesday.

Traders said that they were not seeing any sign of decline in prices of onions imported from Egypt, Myanmar and China although they were selling the item at much higher than the fixed price.

They rather said that onion supply was getting thinner every day threatening its price hike.

The local varieties were sold for Tk 240-260 a kilogram while the Egyptian varieties for Tk 170-200 in the open market. 

Myanmar onions were retailed for Tk 210-230 while the Chinese commodity for Tk 170-190 at city’s Hatirpool Kitchen market and other markets.

They said that imported onions from Egypt were mostly selling under the Trading Corporation of Bangladesh at Tk 45 a kilogram. 

Abul Hasnat, a trader of Hatirpool kitchen market said that buying prices of onions were high in wholesale markets which forced them to sell at high prices.

‘Onion prices may increase as wholesalers indicated us,’ he said.

The prices of onions shoot up to Tk 55-65 a kilogram from Tk 23-40 in Bangladesh on September 14, as India fixed the minimum export price of the item at $850 a tonne on September 13.

On September 29, when India imposed a ban on onion export, the price hit Tk 120 a kilogram in Dhaka’s kitchen markets the following day, on September 30. 

After the price spiral began the government started open market sales of onions through the Trading Corporation of Bangladesh.

The TCB operation hardly had any impact on the market and onion price topped Tk 250 a kilogram across the country on November 15. 

Giant importers started importing onions from Pakistan, Egypt and Turkey by air following a government request.

After the government initiatives, onion supply improved and the prices went slightly down but after two to three days the prices have started rising again since November 20.

News Courtesy: www.newagebd.net