Benapole Correspondent :
The onion market in Jashore has become unstable due to stocking . Now onions are being sold at Tk 75 for the last two days. The price has increased by Tk. 30 per kg. And a month ago the price was Tk.30 last August 12 was Eid-ul Azha. On the occasion of this Eid, the price was sold at Tk.50.
Foreign Trade Branch of the Indian Ministry of Commerce declared on Friday the onion cannot be exported for less than $ 850 per metric ton.
Alamgir Hossain, the proprietor of the Noakhali Agency in the Jashore big bazaar, said the situation was created as a increased the onion exports. As a result, prices have highest. We bring onions from Kushtia and Jhenaidah to Shailkupa and sell them wholesale. I sell it at a slight profit. And the retail market is sold higher price. An informant, who did not want to be named, said the amount of onion reserves in the traders warehouse . It will not be a crisis in the next one month. But after India announced the highest Export price of onion the onion market has become unstable.
According to big market sources, there are 13 onions holesale traders in Alupatti and Kalibari in the bazar.
About 150 sacks of onions are sold every day from these premises. Retailers buy this onion from scratch. country onions come from Jhenaidah, Faridpur and Kushtia districts. And Indian onions come through the port of Benapole and Bhomra. Besides, some traders also collect onions from other places.
The retailer Mohammad Ali said onions were sold on Saturday at a rate of Tk 68 per kg on Sunday, it was sold as a Retail priceTk 75 . He said the new onion can be kept up to TK. 80 till it gets up.
Alamgir Hossain, the Noakhali Agency’s aide, said that as India has increased the prices of onion exports, the price will be around Tk 100 if the onion import from other countries.
Abu Hassan, the importer of the Bhomra land port in Satkhira, said he has imported onions from India for the last month 250 dollars per MT. At the minimum price fixed by India, the price of Indian onion in the retail market can go up to Tk100 per kg.
In indian onions domestic market is high so the Indian government discouraged to export the onion to the other countries. which has also had an impact in Bangladesh. The indian government fixed the minimum price of onion exports again, the Foreign Trade Branch of the Indian Ministry of Commerce said on Friday that onion cannot be exported for less than $ 850 per metric ton.
Bangladeshi importers said that last week, they imported Indian onions from $ 250 to $ 300 per ton. Now India has tied the minimum export price, which will be almost three times that increase. However, many onion importers said that the onions come from different countries besides India. With that, the deficit will not be too much in combination with the country’s production.
As a result, the price may increase slightly in the retail market but the situation is not expected to be so sever. Importers have already started importing onions from different countries, including Turkey, Egypt, Pakistan. As a result, India’s decision does not have to have any effect as the market becomes deregulated. But it has been out of control in two days said importer Mamun Babu.
As a government, onion production in Bangladesh is estimated to be around 17-18 lakh metric tons annually. As the demand is not sufficient, the imports have to be 8 to 9 lakh metric tons.
Most of the imports are from India due to the short distance.
Earlier, at the end of the 2017, once again, India raised the onion minimum export price from $ 450 to $ 850 to accommodate its market. At that time, Indian onion was available at Tk 75 per kg in the retail market of Dhaka, but the price of domestic onion had surpassed tk 100.
