ONION prices in kitchen markets have hit a record high for this year, despite government promises and measures to keep them down. Indian onions were selling for Tk 130 per kg while the local ones for Tk 120 in kitchen markets in the capital. In September, the rate for both varieties of the cooking ingredient was Tk 50.
However, onions were a little cheaper at the wholesale market in Karwan Bazar. Prices of Indian and local onions had jumped to Tk 120 and Tk 140 per kg in 2013, but the rates went down after a day or two. The traders said prices of Indian onions started to go up since the third week of September due to a short supply. It impacted prices of the other varieties of the cooking ingredient. In September, India announced a ban on export of onions with immediate effect, after extended Monsoon downpours delayed harvests and supplies shrivelled.
The price restriction heated up the onion market in Bangladesh as the country meets a portion of its annual demand through imports because of inadequate domestic production. Onion production also suffered locally because of rains during harvesting season. The surging prices raised concerns among consumers. Though State-run Trading Corporation of Bangladesh began selling the tuber at Tk 45 per kilo through five mobile vans in Dhaka, the scale of the operation, however, was too small to make an impact in the market. The spiral in price continues despite a Commerce Ministry official — after a meeting with traders on September 19.
The government took several steps, including imposing fines through mobile courts for selling onions at high prices. Without increasing production, there is no sustainable solution for agro production demand. Consumers’ dependence on single export source also put the food security in danger. And when Bangladesh do everything for India’s prosperity, the unwarned banning on onion export is highly unethical. The farmers must be promoted to increase onion production to meet the needs instead of depends on India.
