The onion market is turning volatile much to the dismay of the general consumers who have their backs already to the wall due to skyrocketing prices of the essential commodities.
Bangladesh consumers fear that with the Muslim festival of the Eid-ul-Adha about a month away, onion prices may go up still further than they have recently. Onions were selling between Tk 80 and Tk 95 a kg at different retail markets in the city on May 30, whereas the day before, the prices of this vegetable ranged between Tk75 and Tk 85 a kg.
As the price of the important cooking ingredient has about doubled within a month, the Commerce Minister reportedly requested the Agriculture Ministry to allow import of onion to stabilise the market. However, the Agriculture Ministry which keeps track of the crop at its production level has been cautious before giving the green signal to the decision of its import.
It seems this delay has to do with protecting the interests of the onion farmers who suffered losses as they had to sell this perishable crop below its production cost at the beginning of the season, according to the Department of Agriculture Extension.
[ Tk 100 = €0.87 ]
Source: today.thefinancialexpress.com.bd