Onion prices hit low by Tk 25 in one swoop

Industry Desk: The Ministry of Agriculture has allowed the import of onions from yesterdaydue to the abnormal price increases. After this news, it is reported that the price of onion has reduced by Tk 25 in the wholesale market.
The country’s onion market has been unstable for quite some time. In order to protect the interests of the farmers, the onion import permit was suspended from March 15 so that the farmers are not harmed by producing onions. Since then the price of this spicy product has been increasing.
The onion which was sold at the price of Tk 40 per kg even before the Ramadan Eid or Eid-ul-Fitr, the prices of onions crossed gradually to Tk 100 on Sunday at Karwan Bazar in the capital.
However, the price has started to fall due to the news of import permission to control the unbridled market.
At Khatunganj in Chattogram, the country’s largest wholesale market, onion was Tk 30 to Tk 35 per kg in March.
Before the import permission, i.e., until Sunday morning, onion was sold at the price of Tk 92 to Tk 95 per kg in this market. In some cases, it has been sold at Tk 100 per kg.
But soon after the import was allowed, the prices began to fall. In this market, the price of onion decreased from Tk 20-25 per kg on Monday. At present, onion is being sold at Tk 70-72 per kg.
Onion wholesale traders said that “since the import was allowed, the price of onion fell at the “farmer level” in Pabna, Faridpur, Kushtia” – which has affected Khatunganj too. If Indian onion starts entering the market, the price will decrease further. Then the price of onion will come down to the previous level.
The price of onion has also decreased at Heli in Dinajpur due to the news of import. Onion price has decreased from Tk 10-15 per kg. At present, onion is being sold at the rate of Tk 70-75 per kg.
In the morning, after visiting the Hili Bazaar on the spot, it was seen that although there is enough stock of onions in the warehouses, the number of buyers has decreased compared to before. Onion was sold at Tk 80-85 per kg in this market last Saturday. Those onions are being sold yesterdaymorning at the price of Tk 70-75 depending on the quality.
Farooq Hossain, a trader in Hili Bazaar, said that the price of onion is falling in the wholesale market due to the news of onion import. Today we are selling onion at Tk 70-75 per kg. But the buyer is relatively less.
Import news has also affected the market in the capital Dhaka. Traders of Karwan Bazar said that onion is currently being sold at Tk 85-90 per kg. But when the import starts, the price will decrease further.
Meanwhile, buyers said that due to the “market syndicate”, the prices of some products are constantly increasing. If it is not curbed, consumers will continue to suffer and a class of businesses will continue to do so.
Noted that the Ministry of Agriculture has decided to grant an onion Import Permit (IP) to protect the interests of consumers with limited income and working people due to the abnormal increase in onion prices in the country’s market. In a press release on Sunday.