Onions Price Hikes Per KG 50 Taka Within Three Weeks

In the country though we are now having the middle stage of onion season, still the price has increased by 62 to 71 percent in the last three weeks unanimously. Earlier in mid-January, local onion was sold at Tk. 70 to Tk. 80 per kg, which became Tk. 100 at the end of January. 

Then in the first week of February, the price of onion was Tk. 105 to Tk. 110 per kg. In consequence on Friday, the price of onion has increased by Tk 120 per kg. And accordingly observed that It was sold at the rate of Tk. 130 per kg in the retail market on Saturday. As a result, the price of onion increased by Tk 50 per kg in just 21 days.

An onion trader named Alamin Hossain buys onions at wholesale price from Pabna and retails those in Dhaka. He said that last week, he sold onion at wholesale price between 80 to 85 taka per kg in Pabna and 100 taka per kg in the capital.

Hossain said that onions were bought at 3,200 to 3,400 taka for 40 kg last week, whereas now they have to buy at 3,800 to 3,900 taka in Pabna.

He also said that the last stage of the season is going on for picking up new onions. These onions started coming in the market about a month and a half ago, and now the farmer's onions are at the end. As a result, the supply began to decrease and the price of onion suddenly increased due to lack of supply compared to demand, Alamin said.

Now it will take a little more time to harvest the staple onion or Hali onion which is available throughout the year. He mentioned that there may be such additional prices in the market till then.

Meanwhile Trading Corporation of Bangladesh (TCB)’s Assistant Director (Market Information) Nasir Uddin Talukder said that onion was sold at Tk 120 per kg in the market on Friday.

Last week it was sold at Tk 90 per kg and earlier it was Tk. 85 to Tk. 100 a month ago. But at this time last year onions were sold at Tk. 30 to Tk. 40 per kg.

UNB