In a welcomed turn of events, onion prices have plummeted by Tk30 per kg as freshly harvested onions flood the markets in Dhaka. The surge in local produce, primarily from the Pabna and Faridpur regions, the country’s main onion production hubs, has led to a significant drop in prices.
Wholesalers and retailers in key marketplaces such as Malibagh, Moghbazar, Karwan Bazar, and Shyambazar report a notable increase in onion supply, marking the onset of the onion season. Consequently, wholesale prices have dipped, with onions now trading between Tk45 and Tk55 per kg.
While retail prices still hover between Tk60 to Tk70 per kg, some savvy consumers have managed to secure onions for as low as Tk55 per kg through negotiation.
Just a week ago, Dhaka’s retail markets witnessed onion prices soaring between Tk90 to Tk100 per kg, causing distress among consumers.
Haji Mukarram, an onion trader in Karwan Bazar, attributes the sudden influx of onions to the farmers’ swift response to news of impending imports from India. This proactive approach has bolstered market supply, consequently driving down prices.
Echoing similar sentiments, Narayan Saha, an onion trader and importer in Shyambazar, emphasizes the significance of timely arrival of seasonal onions. He suggests that the current surplus negates the need for further imports, thereby safeguarding local farmers’ interests.
Narayan underscores the importance of proper onion harvesting and storage practices to maintain market stability throughout the year. Emphasizing meticulous storage techniques, he asserts that adequate preservation measures will help stabilize prices and ensure steady supply to meet future market demands.
