Syndicates behind price hike of onion

Although Bangladesh has a sufficient amount of onion in reserve, prices of the bulb have suddenly increased due to the formation of syndicates among related businesses, according to Agriculture Minister Muhammad Abdur Razzaque.

"There is sufficient onion production in the country but a section of businesspeople is responsible for the recent price hike," he said.

Razzaque made this comment while inaugurating modern storage facilities in the Sujanagar and Santhia upazilas of Pabna, the biggest onion producing district, yesterday.

Speaking to reporters after the inauguration, he stressed the need for proper storage facilities for the crop as huge amounts are wasted each year due to rot.

"We already introduced modern onion storages in Pabna, Rajbari, Faridpur and other areas. We aim to provide such facilities across the country so that farmers can easily preserve their crops," Razzaque said.

Asked about the recent hike in onion prices, he said the crisis would soon be resolved. However, a decision on imports will only be taken after closely examining the market situation.

On the other hand, farmers are pleased with the current prices as they are getting between Tk 2,500 and Tk 2,700 for each maund (37 kilogrammes) of onion.

"We are collecting information about the total supply of onion in the country and will decide on imports after examining the real picture," the agriculture minister said.

"The government is determined to save the farmers, so we will do nothing against their interest," he added.