Onion prices bring tears in Dhaka as import drops

Onion prices bring tears in Dhaka as import drops

0

The prices of onion have skyrocketed by Tk 20 a kilogram in capital Dhaka.Businessmen blamed the abrupt hike on a spike in prices on low supply in India.On Thursday, onion was sold at Tk 65-70 a kg at the markets in Dhaka. The price was Tk 50 per kg on Wednesday.The variety, which was being sold at Tk 35-40 a kg on Wednesday, was costing Tk 50-65 per kg on Thursday.Popular Banijyaloy owner Ratan Saha of Old Dhaka’s Shyambazar wholesale market of agricultural products blamed the drop in cultivation and price hike in India.“The production of onion in our country is satisfactory this year. But our market is linked to the Indian market. The reason of the rise in price is caused by the rise there,” he said.He said price of onion soared in India because of low production due to heavy rains.The price shot up to Tk 100 a kg in September last year.Bangladesh was importing onion at $330 to 350 (around Tk 34,000) a tonne from India now, according to businessman Saha.“And then, you add the transport cost,” he said.He, however, thinks that the price will fall within 20 days once onion from Bengaluru arrives.According to the commerce ministry, the annual demand of onion in Bangladesh is 2.2 million tonnes. The country produced 1.8 to 1.9 million tonnes this year. The rest is imported.According to the Trading Corporation of Bangladesh (TCB), the price of local onion rose by Tk 10 a kg and imported onion Tk 25 a kg in a day. The TCB website said local onion was being sold at Tk 60-60 per kg and imported onion at Tk 50-65 a kg on Thursday.

Share.
Loading...

Comments are closed.