Ruma Akhter, an employee of Bangabandhu Sheikh Mujib Medical University, could not believe her ears yesterday when a trader at the capital’s Karwan Bazar asked Tk 104 for a kilogram of onions.
It is peak harvest season, but the price of onion has soared by Tk 10 per kilogram at the capital’s kitchen markets over the last three days.
The prices of onion have shot up despite adequate supply, according to a Bangladesh Trade and Tariff Commission (BTTC) report -- laying bare the extent of market manipulation by a section of dishonest traders.
India’s Consumer Affairs Secretary Rohit Kumar Singh says today in New Delhi
The director general of the Directorate of National Consumers Right Protection says
Prices of onion increased by Tk 100 or more per kg overnight as traders began stockpiling following the news that India had extended a virtual restriction on its export.
Retailers were selling the homegrown variety of onion at Tk 200 a kg at Karwan Bazar today, compared with Tk 130 on Thursday
Onion set prices have doubled in Bangladesh, dashing the hopes of the inflation-hit people for an immediate reduction in the prices of the key cooking vegetable through the cultivation of early winter varieties.
Onion prices at wholesale and retail markets in Bangladesh rose yesterday after India set a minimum price of $800 per tonne on exports of the bulb.
59 trucks brought in around 1,800 tonnes of the bulb
The Bangladesh Trade and Tariff Commission (BTTC) yesterday requested the revenue authority to lift all import tariffs on onion until December 31 this year as its domestic prices spiked after India slapped 40 percent export duty on the vegetable.
The commission writes a letter to the NBR
Although Bangladesh produces enough onion, a significant portion is imported each year to meet domestic demand
The wholesale price of onion is again increasing in Bangladesh as farmers are quickly running out of stock due to an inadequate supply of the local variety, according to traders and growers.
Onion prices have gone up in both wholesale and retail markets in Bangladesh in the span of a week owing to the higher cost of imported varieties of the kitchen staple.
Those who artificially raised prices did the country a great disservice
The prices of rice, edible oil, beef, sugar, egg and onion have risen more in Bangladesh than that of the international markets, affecting the poor people who are already suffering from erosion of purchasing capacity for pandemic caused income losses, said the Centre for Policy Dialogue (CPD) today.
Garlic, ginger and onion prices soared in the capital throughout last week as traders fear that China may not resume business operations after its Lunar New Year break is over.
Admitting that the people suffered a lot due to skyrocketing prices of onion, Agriculture Minister Abdur Razzaque in parliament has assured that such problem will not be there in the next year.