Onion prices in Bangladesh are high due to ‘artificial crisis’

The prices of onion and green chili have doubled in kitchen markets of the capital in a week due to insufficient supplies and inclement weather, while demand is high as the nation is nearing the "Festival of the Sacrifice", or Eid-ul-Azha.

Traders said they were selling the essential items at higher prices as they had to buy those at increased prices. However, rights activists and common people blamed a section of dishonest traders for the price hike, saying they have created an artificial crisis through stockpiling onion ahead of Eid-ul-Azha for extra profits.

Visiting several kitchen markets in the city, this correspondent found that local variety of onion was selling at ৳ 50-60 while imported one at ৳ 40-45 per kg. The price of green chili ranged from ৳ 120 to 130 per kg.

Traders said there was a hike in the onion price following its increase in India, the main source of onion import, and the prevailing inclement weather.

Mohammad Hafiz, an onion importer at Dhaka’s Shyambazar, said the prices have seen a slight rise due to the short supply for inclement weather. “Besides, India has hiked the import prices, causing an impact on the Bangladesh market.”

[  ৳ 100 = € 1.05 ]

Source: theindependentbd.com

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