• Friday, Mar 31, 2023
  • Last Update : 10:24 am

Onion prices spiral despite fall in wholesale market

  • Published at 04:11 pm July 16th, 2019
Onion-high price-Mehedi Hasan
City’s kitchen markets see big leap in retail prices of onions, although its wholesale prices declined Mehedi Hasan/Dhaka Tribune

The prices of garlic and ginger have fallen by Tk10 to Tk15 per kg in the wholesale market

Onion prices still remain high in retail market selling at Tk50 to Tk60 per kg although the prices have decreased in the wholesale market. 

On Tuesday, at Karwanbazar wholesale market, five kg of local onion sold at Tk190 and the imported one at Tk170, while three days ago they were Tk220 and Tk180 respectively. At wholesale rate, per kg local onion costs Tk38 while the imported one Tk34. 

But in retail market, per kg local onion was selling at Tk60 and the imported onion at Tk45 to Tk50, Dhaka Tribune found while visiting different kitchen markets in the capital. 

Md Masud, a trader at Karwanbazar, said: "There is no sign of the price going down as Eid-ul-Azha is drawing near. Besides, flood is another reason for high price of onion." 

Another importer and trader of the market Abdul Karim claimed that in the last three days, the price remained stable and feared that it would increase as the transportation cost would be high because of inclement weather. 

Meanwhile, prices of garlic and ginger have fallen by Tk10 to Tk15 per kg in the wholesale market. But in the retail market per kg garlic is selling at Tk230 to Tk250 which is Tk180 to Tk130 in the wholesale market.

Similarly, per kg ginger is selling at Tk200 to Tk220 in retail market which is sold at Tk140 to Tk180 in the wholesale market. 

Asked about price gap between retail and wholesale market, Md Matin, a trader at Panthapath, said: "We cannot preserve onion because of bad weather. So, to minimize our loss, we have to sell at higher prices." 

He also blamed short supply for the price hike.

Government plans to sell onion through TCB

The government is considering measures to rein in the price spiral of onion.

“Prices of onion increased due to supply shortage as imports from India slowed down. In addition, rain has had negative impact on the supply chain,” said Commerce Minister Tipu Munshi.

The minister made the comment while briefing journalists at his secretariat on export performance of the just concluded fiscal year yesterday.

To monitor prices, especially those of onion and garlic, ahead of Eid-ul-Azha, the government already directed the deputy commissioners, said Tipu.

"We have come to know that the Indian government has withdrawn incentives against export of onion, which may be a reason for the price hike. I have already asked the commerce secretary to check it and take necessary steps," said the minister.

"We are closely monitoring the prices of essentials and if needed, onion will be sold at open market through Trading Corporation of Bangladesh (TCB)," said Tipu. 

Facebook 50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail