Prices of onion drop, lentil rise

Prices of onion drop, lentil rise

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Onion prices have dropped from last week, but consumers say prices of the staple should be lesser in the beginning of the season.On Friday, local onion was sold at Tk 40 to 42 per kilogram, which is Tk 5 to 8 less than what it was in the previous week.Prices started rising at the beginning of May and within two weeks, they had doubled despite arrival of new season’s produces.The price of onion was Tk 22 to 25 on Apr 15. It rose to Tk 35 to 40 in the beginning of May and then to Tk 50.Importers blamed rotting of onion in India due to heavy downpour for the rise in prices.However, onion imported from India was selling at Tk 30 to 40. A week ago, the price was Tk 45.Consumers say they were still worried about the price.A private firm executive, Mohammad Asaduzzaman, told bdnews24.com at Mirpur-11 market that he did not think there was any market regulator.“Prices of onion and other commodities shot up some days ago. Then they dropped slightly following media reports, but never returned to the previous level,” he said.
Price of lentil rose from Tk 115 to Tk 120 a kg.Ginger was selling at Tk 100 to 150 a kg; it was Tk 140 a week ago.
Mohammad Sayeed, chief of the traders association of the wholesale market of agricultural products at Shyambazar, explained the onion price fall.“Onion is coming from India. Supplies from the domestic sources have also increased. So the prices have dropped. I hope it will drop further.”About the rise in the price of lentil, he said, “The price of lentil rises this time every year. The season has ended. “The demand also rises this time. It’s nothing unusual.”
He said the ‘slight’ rise in price of ginger was not ‘significant.’Retailers said prices of commodities were rising due to stockpiling ahead of Ramadan.

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