Onion price jumps by Tk 10 in a week

The price of onion in the retail market has jumped by Tk 10 per kilogramme since last week, ahead of the Eid-ul-Azha.

The price of the kitchen staple went up by Tk 20 per kg since last month.

Also, several other kitchen items, including potato, ginger, garlic, green chilli, tomato, eggs, chicken, and beef saw spiraling prices since last week.

Price of eggs went up by Tk 15 per dozen.

However, prices of several vegetables have been reduced to some extent.

This correspondent, while visiting kitchen markets in different areas of Dhaka, including Mirpur 11, Bhashantek, Kochukhet, and Karwan Bazar today, observed the current scenario with retail prices of daily necessities.

"A significant fraction of onions in Dhaka's markets come from Pabna and greater Faridpur region. The price of onion went up in the local wholesale markets there by Tk 10-15 per kg, since many onion cultivators are keeping their produce stockpiled in hope of selling those at higher price ahead of Eid. As a result, the retail price of onion also increased," said Sajib Sheikh, an onion trader at Karwan Bazar.

"At present, onions imported from India are being sold at Tk 80-82 per kg, while local onions at Tk 70-74 per kg. There is increased demand for onions ahead of Eid, so the price is also on the rise," said Md Majid, an onion trader and importer at the capital's Shyambazar.

"However, if the Indian government lowers tax on imported onions, the price in local markets will reduce," he added.