• Financial

The price of onion has suddenly started rising before Eid

  • Financial
  • 26 April, 2022 11:30:05

Photo: Collected

News Desk: The price of onion has suddenly started rising before Eid. The price of this important part of cooking has increased from 8 to 10 rupees per kg in a week. The onion that was sold at Tk 25 per kg last week is now being sold at Tk 30-35 in the retail market.

On Monday (April 25), information was found that he visited Khilgaon, Mugda, Badda and Karwar market areas of the capital and talked to buyers and sellers.

Alamgir Hossain, who came to Khilgaon raw market to buy onions, said, "I bought two kg of onion last week for 50 rupees." 25 rupees per kg. Today he wants 35 rupees per kg. What is the problem that suddenly increased 10 rupees? I went to two or three shops and bought two kg and took 75 rupees.

Mubarak is selling onions in a van on the streets of Mugda. He said that even four days ago, he used to pay Rs 21 to Rs 22 per kg of onion at the ghat (wholesale market). I have brought it and sold it for 25/26 rupees. Now it costs more than 26 rupees. Sudden increase in price reduces sales. So I am selling for 30 rupees. But if you sell it for 30 rupees, there is no profit now. Because there is a shortage of raw materials.

Ashraf, an onion seller in Karwan Bazar, says that the onion market is a bit high. He said the onion market has been on the rise for the last three or four days. Today, I am selling onions at Rs 32 and hybrids at Rs 30. Asked about the reason for the price hike, he said, "We buy and sell from wholesalers." They have raised prices, saying supply is low.

Messrs. Ali Traders, the leader of the onion traders in the capital's Shyambazar, acknowledged the increase in prices in the wholesale market and in the yard. Shamsur Rahman said that if the supply of raw materials is less then the price goes up. If more, the price decreases. The supply was low in the last few days so the market is increasing now. Today onions are being sold wholesale at 25 to 26 rupees. If supply increases, prices will decrease.

Minister of Agriculture in Parliament. According to Abdur Razzak, Bangladesh has an annual demand of 3.3 million metric tons of onions. Of this, 23.30 million metric tons of onion is produced in the country. The rest of the deficient onions have to be imported.

Meanwhile, information received from different districts says that this time the yield of onion has improved due to favorable weather. Therefore, there is no reason for the sudden increase in prices, say the people involved in the sector.

Manzoor Mohammad Shahriar, director of the National Consumer Rights Protection Department, said, "As far as we know, the yield of onion has improved this time." Even then, our monitoring team will go to the field to see why the price is suddenly rising. The prices of these products are fixed by the Department of Agricultural Marketing. If anyone raises the price illegally by talking about supply, action will be taken against them according to the law.

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