Dhaka Saturday, July 20, 2024

Onion prices soar above Tk 100
  • Financial Post Desk
  • 2024-07-06 05:17:14

Onion is one of the essential ingredients of Bengali cooking. Cooking without this product is almost impossible. In this situation, onion prices soar above Tk 100. It is being sold at Tk 100-110 per kg. Therefore, the buyers have to buy despite the high price of onion.

The sellers say that there is a shortage in the supply of local onions in the market. Besides, onion prices are increasing due to less import from India.

On Thursday (July 4), the capital's Sheorapara, Taltala, and Karwan markets showed that the prices of local onions have increased a lot compared to two weeks ago.

Onion retail traders said that onion season has started with high prices. At the beginning of the season in February, new onions were sold in Dhaka at the rate of Tk 80-100. In March, the price of onion exceeded Tk 120. Then it decreased slightly in April and started increasing again. At the time of Qurbani Eid, a kg of local onion was Tk 80-90 in the market; Which has now reached Tk 100-110. That is, in 15 days, the onion price has increased by Tk 20 per kg.

Wholesale traders say that the import of onions from India was stopped for four to five months. As a result, people bought a lot of local onions at this time. On the other hand, India has imposed a 40 percent duty on onions despite allowing them to be exported. The price of onion is also increased within the country. As a result, the price of imported onion in the market is falling more than the local onion.

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Onion prices soar above Tk 100