On Saturday, the prices of local varieties of onion in Dhaka’s kitchen markets soared to Tk110-120 per kg, up from Tk90-97 per kg a week ago, intensifying consumer concerns.
Traders attribute the price hike to a reported shortage in the wholesale market supply from Faridpur and Pabna, the main production hubs for local onions. They claim that the supply drop is driving the increase in prices.
Currently, the local variety of onion is priced at Tk110-120 per kg, while imported onions are sold at Tk97-104 per kg.
Mohammad Majed, General Secretary of the Shyambazar Onion Traders’ Association, stated that the prices of all local onion varieties have risen due to the supply crunch. “We are currently importing onions from India where the prices are high,” he said.
The cost of imported onions stands at Tk90-95 per kg after factoring in import taxes, transportation, and other expenses, contributing to the high cost of imported onions as well.
Majed noted that the price of local onions is Tk15-20 per kg higher compared to the imported ones.
Consumers at Malibagh Bazar, Karwan Bazar, and Hatirpool Bazar expressed their frustration over the abnormal hike in the prices of essential items in the kitchen markets.
Mahmuda Alam, a resident of Malibagh, said, “The sudden spike in onion prices is baffling. What will the middle and low-income groups do if the prices of meat, vegetables, and all other items keep rising this way?”
Johura Begum, a domestic help in the Rajarbag area, remarked, “Prices of everything in kitchen markets are high. We now avoid considering onion as an essential item and try to cook without it most of the time.”
Onion imports from India resumed on May 14, 2024, after nearly six months of hiatus following the Indian government’s lifting of its ban on onion exports on May 4. India had initially imposed a ban on onion exports on December 7 last year, extending it indefinitely on March 23. Bangladesh was among six countries that received an exemption from the ban.
