Upward trend of onion market despite continued imports. The price of all kinds of onions has gone up. In the retail market of the capital, the price of onion has gone up to Tk. 85 per kg. The price of onion was Tk. 35 per kg just a week back. Meanwhile, Commerce Minister Tipu Munshi will sit in an emergency meeting on Monday to discuss the rocketing of onion prices. The meeting will discuss the steps to be taken to control the onion market, ministry officials said.
According to the latest data from the state-run Trading Corporation of Bangladesh (TCB), local variety of onions were sold at Tk. 70-75 on Sunday and imported onions at Tk. 60-65. But even a week ago, local onions were sold at Tk. 50-55 and imported at Tk. 45-50. In fact, its price is higher in different markets of the capital.
According to the Department of Agricultural Extension, the demand for onions in the country is 28 lakh tons per year. Of this, the production in the country is 33 lakh tons. Although 30 percent of onions are wasted due to various reasons including lack of conservation, the remaining is 23 lakh tons. And every year 8 to 10 lakh tons of onions are imported. As a result, there is always a surplus of onions in excess of the demand. At present, the farmers have a stock of 6 lakh tonnes of onions, which can be used till next January. In other words, there are enough stocks of domestic onions. There is no reason to increase the price. But traders in India have raised prices, blaming declining supply of onions on the pretext of rains and puja holidays.
Haji Mohammad Majed, general secretary of Shyam Bazar Onion Traders Association, told the media that the supply of onions in the market is low. As a result, prices have risen. In the last experience, many did not open an import LC. However, he said imports could increase if tariffs are lifted.
Meanwhile, 924 tonnes of onions were imported in 34 trucks in a single day through the Hili land port in Dinajpur last Saturday. Onion import continues through the port on Sunday. Even then, the price of onion has gone up to Tk. 3 per kg in two days. Even two days ago, onion was sold at Tk. 46 per kg at the port, but it has increased to Tk. 48 to 49 per kg. Meanwhile, the wholesalers who come to the port to buy onions are in trouble as the price has gone up by Tk. 2/3 per kg every day.
According to the Hili Land Port Office, the import of onions through the port has continued, but earlier only Indore varieties were imported, but now it has started importing onions from the South. In the port, onions of Belori variety of South are being sold at Tk. 47 per kg at wholesale price (Truck sell) and onions of Indore variety are being sold at Tk. 48 to 49 per kg.
Sohrab Hossain, public relations officer of Hili land port, told the media that the import of onions through Hili land port continues. However, onion imports have increased slightly. A total of 924 tonnes of onions were imported in 34 trucks through the port on Saturday where 504 tons of onions were imported in 20 trucks through the port on Thursday. Onion import is still going on through the port. As onion is a putrescent material, the port authorities have made all kinds of preparations so that it can catch the market of the country by unloading it quickly.