Price of onions and potatoes going up in Bangladesh

The price of onions has increased by Tk10-15 per kilogram (kg) over the last two weeks, now retailing for Tk50-55 for the local variant and Tk60 per kg for the imported kind - up from Tk40-45 last month. It experienced a 33% monthly hike for local variants from Tk40 per kg, and 21% for imported ones from Tk45 per kg, both from last month. Retailers said that the price of onion may spike further as there was no chance to import Indian onions before Eid-ul-Azha.

The rising prices remain unexplained as it is the peak harvesting season for local onions. “Vendors are citing a lack of import of Indian onions for the price hike,” said Mojaffar Hossain, a customer from Karwan Bazar.

He also said that while there are plenty of local onions in the market, retailers were raising prices while maintaining a strong syndicate with onion wholesalers. However, a vendor from Karwan Bazar said that they had nothing to do in these cases as they had to buy vegetables at high prices from wholesalers.

Wholesalers said that prices were up as imported onions were scarce in the market. Moreover, demand has also increased ahead of Eid-ul-Azha, he added. Earlier, the Agriculture Ministry imposed a ban on importing Indian onions from May 6 to protect the interest of local farmers.

[ Tk100 = €1.00 ]

Source: dhakatribune.com


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