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Minister Tipu Munshi: prices will come down soon

Bangladesh onion prices spiralling despite drop in wholesale market

Although the prices have decreased in the Bangladesh wholesale markets, onion prices still remain high in the retail markets, selling at Tk50 to Tk60 per kg  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, local onions were selling at Tk60 per kg and the imported onions at Tk45 to Tk50, the Dhaka Tribune Found.

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 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.

Commerce minister Tipu Munshi on Tuesday assured that the prices of essential commodities including onion would come down soon and would remain at an affordable range during Eid-ul-Azha.

At a press conference on achieving export earnings target in the financial year 2018-19 held at the ministry, the minister said that if necessary, the government would sale onion in the open market through Trading Corporation of Bangladesh to keep the price of the item at a reasonable level.

[ Tk100 = €1.05 ]

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