Desk Report:
Onion prices have suddenly started increasing in the country. In the last one week, the retail price of onion has increased by up to 40 taka per kg. Of this, it has increased by more than 20 taka in the last three-four days.
Market participants say that the onion stocks of the last season in the country are almost over. On top of that, some onion fields have been affected by the rains of a few days. On the other hand, imports have also been stopped. Hoarders are taking advantage of this.
Traders said that a maximum of 10 percent of the onion stocks of the last season are available. The remaining 90 percent is finished. Cultivation of the new season’s Murikata variety of onions has started. It will still take one and a half to two months to reach the market. And sources in the Ministry of Commerce said that market information is being collected. If there is a need to import, approval will be given soon.
Yesterday, small onions were sold at 110 taka per kg in various retail markets including Segunbagicha, Malibag, Maniknagar in the capital. Slightly larger onions were sold at 120 taka per kg. A week ago, the price of these onions was 80-85 taka per kg. Accordingly, the price has increased by 20-35 taka per kg in a week.
According to Trading Corporation of Bangladesh (TCB), the price of onion has increased by 40 taka per kg in the last week and is being sold at 100-120 taka per kg, which was 70-80 taka per kg a week ago. However, TCB also said that last year at this time the price of onion was 130-150 taka per kg.
Onion seller Md. Sifat in the capital’s Segunbagicha Bazar said that the price was stable due to good supply of local onions. But currently the supply of onions in the places has decreased, which has affected the price. The price of onion has increased by 15-25 taka per kg from Saturday to Wednesday.
However, the wholesale price has decreased slightly. Yesterday, onions were sold at wholesale level at Shyambazar, the capital’s onion warehouse, for 90-95 taka per kg, which was 95-100 taka per kg on Tuesday and 90-95 taka per kg on Monday. And a week ago, they were sold at 65-70 taka per kg. Accordingly, the wholesale price of onion in Shyambazar has increased by Tk 25 per kg in the last one week.
Md. Mithu, owner of Apu Traders, an onion shop in Shyambazar in the capital, told Ajker Patrika that out of 100 farmers, 90 have finished selling onions. A maximum of 10 farmers now have onion stocks. This is increasing the price of onion in the markets of Faridpur, Rajbari, Pabna and other regions, which is affecting the wholesale and retail. However, if the supply in the market is good, the price decreases slightly, and if the supply decreases, the price increases. This is the characteristic of raw materials.
Md. Mithu said that it will take another month and a half for new onions to grow in the country. Until then, if people can eat onions at the current price, there is no need to import. And if the government wants to reduce the price, it will have to open the door to import.
It is known that on Tuesday, onions were sold at Tk 4,200 per maund in various markets including Faridpur and Pabna, which decreased slightly to Tk 3,800 yesterday.
According to the Ministry of Agriculture, onion production in the country is carried out in two phases. At the beginning of the Rabi season, cut onions are planted. This variety of onion cannot be stored for a long time. Once the cut onions are harvested, farmers plant halii or seed onions on the same land. These onions are stored in storage rooms or in various ways for a long time; which are now available in the market.
The harvesting of cut onions in the country will start in the middle or last half of December this year. As a result, the supply of onions in the country will decrease continuously for at least the next one and a half months. Many traders have suggested importing.
Earlier, in early September, the Bangladesh Trade and Tariff Commission had recommended that import should be allowed only if the price of onions crosses 90 taka per kg. Along with this, the commission also recommended exemption from customs duties and taxes.
Secretary of the Ministry of Commerce Mahbubur Rahman said that the Secretary of Agriculture has said that new onions will come to the market within 15 days. Therefore, there will be no shortage. However, some organizations have been asked to collect market information. If there is really a shortage, import will be allowed.
The Department of Agriculture Extension (DAE) issues an import permit (IP) for onions from the plant quarantine department.
The Commerce Ministry says that there is a demand of 2.6-2.7 million tonnes of onions in the country. According to the Ministry of Agriculture, the country produced 3.8 million tonnes of onions last season. However, 6-7 million tonnes of onions are still imported into the country every year.
When asked, Boni Amin Khan, Additional Director (Import) of the DAE’s Plant Quarantine Wing, said, “We do not have any applications for onion import now. Applications will be accepted if the government approves the import. Discussions are underway in the ministry on the matter.”
