• Monday, Sep 23, 2019
  • Last Update : 01:05 am

Supply shortage pushes up onion price

  • Published at 10:48 pm August 24th, 2019
onion
Representational image Mehedi Hasan/Dhaka Tribune

'The onion market heavily depends on imports, especially from India'

Onion prices at capital’s kitchen markets shot up to Tk50-55 per kg from Tk40 last week, which the traders blamed on supply shortage.

Nurul Haque, a Karwan Bazar-based wholesaler said there was minimal import of onion after Eid-ul-Azha causing the prices increase.

“The onion market heavily depends on imports, especially from India,” he said.

The wholesaler, however, hinted that the prices might come down in one or two days as onion imports would start to rise again.  

Visiting kitchen markets in different parts of the capital, Dhaka Tribune found that per kilogram of local onion was selling at Tk55 to Tk52, which was Tk38 to Tk40 just a week ago. 

Onion imported from India was selling at retail shops for Tk50 per kg, which was Tk30 to Tk35 per kg last week. 

Onion was found selling at Tk44-47 at Karwan Bazar wholesale market yesterday. 

Wholesalers said they were selling onion at slightly lower rates on the day compared to the previous day. But it would take two or three days to reconcile the price at retail markets, they said. 

Trading Corporation of Bangladesh (TCB) data also showed the price hikes. The organization said yesterday the prices were Tk45-55, which was Tk30-45 last week. 

According to traders, Bangladesh consumes about 2.8 million tons of onion annually, of which about 50% are met by local produces and the rest with imported ones.  

In fiscal year 2017-18, 2.33 million tons of onion was produced in 212,194 hectares in the country.