Onion Follows Soybean Oil

Consumers already have suffered much due to rising soybean oil prices and low supply in the market. The volatile situation in the oil market has not yet fully subsided. And now people are going to fall into the same situation with onion.

It has been seen on the spot that the price of onion has increased from Tk 12 to Tk 13 per kg in the wholesale market.

Due to the expiration of Import Permit (IP), traders are now unable to import onion from India for five days in a row through Hili land port of Dinajpur. As a result, the price of onion has started hiking due to reduced supply in the retail market.

Today, on Wednesday (May 11) at around 11:30 am, in the port warehouses, the small ones are being sold at Tk 23 to Tk 25 and the big ones at Tk 28 to Tk 30 depending on the type of Indian onion. There is no Indian onion in the retail market like before. Indian onions are being sold at Tk 23- Tk 25 ​​per kg in the market and at the retail market at Tk 25-Tk 28 per kg. Good quality onions are being sold at Tk 28 to Tk 32 per kg. And the local onion is being sold at Tk 32.

Ataur Rahman, a wholesale trader in Hili Bazar, said, "A few days ago, we bought Indian onions at Tk 14 to 16. Onion imports from India have stopped for the last few days and supply in the market is low. As a result, the retail price has increased from Tk 12 to Tk 14 per kg. We have nothing to do with it."

Shakil Hossain, a retailer in the market, said prices of Indian onions started hiking in the morning and afternoon due to the suspension of onion imports from India. If the supply increases, the price will fall again. At present, retail Indian onions are being sold at Tk 25 to Tk 30 depending on the variety. And local onion is being sold at Tk 32 per kg.