Economic Reporter :
Prices of onions are still eye-watering despite different types of onions imported from several countries are now available in the kitchen markets across the country Bangladesh.
Some of the imported onions were relatively cheaper, but the local newly harvested and old onions were still selling at higher prices in the city’s kitchen markets.
To keep the onion prices in check, the government has been importing the essential cooking ingredient by air and sea and selling those through its trading arm, the Trading Corporation of Bangladesh, at Tk 45 per kg across the country.
Several business groups have been importing onions from China, Egypt, Turkey, Myanmar and Pakistan.
Prices of Egyptian and Chinese onions have dropped by Tk 10 to 20 a kg in three to four days, retailers said.
Each kg of Chinese onion was sold at Tk 100 and Egyptian onion at 120, said Mizanur Rahman, a retail trader at Mirpur’s Borobagh on Friday.
Onions imported from Myanmar were priced at Tk 220 a kg, local old onions at 240 per kg, and local immature onions were being sold at Tk 190 per kg.
“Although the demand for domestic onions is high, their sales have declined sharply. I can’t even sell a sack of onion a day, but had sold 40 to 50 sacks a day before. As prices go up, people have reduced the consumption of onions to a great extent,” said Babu Sheikh, a retail trader at Karwan Bazar.
Abdul Latif Molla, a wholesaler at Mirpur-1, told bdnews24.com that he was selling new onions at Tk 160 a kg.
Onion prices began to soar after India banned exports to control domestic prices in September, prompting the government to take several measures to tame the skyrocketing price.
Prices continued to spiral after Cyclone Bulbul that struck the coastline on Nov 9 squeezed supplies, and they hovered around Tk 250, a record in Bangladesh.
Abdul Latif believes onion prices will begin coming down in the next 15 days when the home-grown onions will arrive in the markets. On this day a year ago, the local variety of onion was sold at Tk 30 to 35 a kg and imported ones ranged between Tk 25 and Tk 30 a kg, according to the TCB.
Abdul Majid, an importer at Shyambazar in Dhaka, said, “The supply of old onion sold at the highest prices is almost exhausted. This situation will continue for at least 10 more days. Then the prices of all types of onions will come down below Tk 100 a kg.”
Prices of onions are still eye-watering despite different types of onions imported from several countries are now available in the kitchen markets across the country Bangladesh.
Some of the imported onions were relatively cheaper, but the local newly harvested and old onions were still selling at higher prices in the city’s kitchen markets.
To keep the onion prices in check, the government has been importing the essential cooking ingredient by air and sea and selling those through its trading arm, the Trading Corporation of Bangladesh, at Tk 45 per kg across the country.
Several business groups have been importing onions from China, Egypt, Turkey, Myanmar and Pakistan.
Prices of Egyptian and Chinese onions have dropped by Tk 10 to 20 a kg in three to four days, retailers said.
Each kg of Chinese onion was sold at Tk 100 and Egyptian onion at 120, said Mizanur Rahman, a retail trader at Mirpur’s Borobagh on Friday.
Onions imported from Myanmar were priced at Tk 220 a kg, local old onions at 240 per kg, and local immature onions were being sold at Tk 190 per kg.
“Although the demand for domestic onions is high, their sales have declined sharply. I can’t even sell a sack of onion a day, but had sold 40 to 50 sacks a day before. As prices go up, people have reduced the consumption of onions to a great extent,” said Babu Sheikh, a retail trader at Karwan Bazar.
Abdul Latif Molla, a wholesaler at Mirpur-1, told bdnews24.com that he was selling new onions at Tk 160 a kg.
Onion prices began to soar after India banned exports to control domestic prices in September, prompting the government to take several measures to tame the skyrocketing price.
Prices continued to spiral after Cyclone Bulbul that struck the coastline on Nov 9 squeezed supplies, and they hovered around Tk 250, a record in Bangladesh.
Abdul Latif believes onion prices will begin coming down in the next 15 days when the home-grown onions will arrive in the markets. On this day a year ago, the local variety of onion was sold at Tk 30 to 35 a kg and imported ones ranged between Tk 25 and Tk 30 a kg, according to the TCB.
Abdul Majid, an importer at Shyambazar in Dhaka, said, “The supply of old onion sold at the highest prices is almost exhausted. This situation will continue for at least 10 more days. Then the prices of all types of onions will come down below Tk 100 a kg.”
