Staff Reporter :
The price of local variety of onion has reached Tk 90 to 100 per kg, while imported Indian onion is selling at Tk 80 to 85 per kg.
The data of Trading Corporation of Bangladesh (TCB) has shown that the onion price was Tk 40 per kg during the corresponding period of last year.
The price of onion has increased in Bangladesh following new export value of onion fixed at USD $ 850 per ton by the Indian government on Thursday. As per the latest export rate of onion, average value of per kg onion after import is Tk 69.
A group of traders enhanced onion price by Tk 10 to 15 per kg after Thursday and the price is raised everyday in the whole sale markets. As a result, price increases at retail markets also, analysts said.On Saturday, onion was selling at Tk 420 per palla (5kgs) at Karwan Banazar,
which means average value of per kg onion is Tk 84. After sorting out, grossers are selling onion (big size) at Tk 100 per kg while small at Tk 90 per kg.
The annual domestic demand of onion is around 22 lakh tons and its domestic production this year is 19 lakh tons, data of Agriculture Ministry showed.
Given this scenario earlier this month, agriculture ministry official said, the shortfall should not have been more than 300,000 tonnes, which could have been managed had Bangladesh imported 770,875 tons of onions between January and October.
So where did the remaining 470,845 tons of onions disappear? Government officials say these onions can meet the demand for at least two more months by which time the newly harvested crop would enter the market.
According to Bangladesh Bureau of Statistics, domestic production of onion was 18.66 lakh tones in 2016-17 fiscal year, an increase of 1.31 lakh tons from previous year.
Bangladesh Bank data showed that 10.41 lakh tones of onion has been imported in the similar time.
Newly harvested onion usually arrives in the country at the end of November. This year late rainfall has delayed the arrival of new onion in the market.
The price of local variety of onion has reached Tk 90 to 100 per kg, while imported Indian onion is selling at Tk 80 to 85 per kg.
The data of Trading Corporation of Bangladesh (TCB) has shown that the onion price was Tk 40 per kg during the corresponding period of last year.
The price of onion has increased in Bangladesh following new export value of onion fixed at USD $ 850 per ton by the Indian government on Thursday. As per the latest export rate of onion, average value of per kg onion after import is Tk 69.
A group of traders enhanced onion price by Tk 10 to 15 per kg after Thursday and the price is raised everyday in the whole sale markets. As a result, price increases at retail markets also, analysts said.On Saturday, onion was selling at Tk 420 per palla (5kgs) at Karwan Banazar,
which means average value of per kg onion is Tk 84. After sorting out, grossers are selling onion (big size) at Tk 100 per kg while small at Tk 90 per kg.
The annual domestic demand of onion is around 22 lakh tons and its domestic production this year is 19 lakh tons, data of Agriculture Ministry showed.
Given this scenario earlier this month, agriculture ministry official said, the shortfall should not have been more than 300,000 tonnes, which could have been managed had Bangladesh imported 770,875 tons of onions between January and October.
So where did the remaining 470,845 tons of onions disappear? Government officials say these onions can meet the demand for at least two more months by which time the newly harvested crop would enter the market.
According to Bangladesh Bureau of Statistics, domestic production of onion was 18.66 lakh tones in 2016-17 fiscal year, an increase of 1.31 lakh tons from previous year.
Bangladesh Bank data showed that 10.41 lakh tones of onion has been imported in the similar time.
Newly harvested onion usually arrives in the country at the end of November. This year late rainfall has delayed the arrival of new onion in the market.
