Despite the peak harvesting season, onions are now among the rising kitchen essentials in Bangladesh, alongside rice, soybean oil, and vegetables. In Dhaka's kitchen markets, locally grown onions are selling for around $0.64 per kg, up from $0.50 to $0.55 just a week ago.
Data from the Trading Corporation of Bangladesh (TCB) indicates that retail prices in the capital range from $0.36 to $0.59 per kg, marking a 23.5% increase compared to a month earlier. A week ago, prices were between $0.36 and $0.50 per kg, as per TCB data.
Retailers and wholesalers in Dhaka, along with farmers from major onion-growing districts like Pabna and Faridpur, report that onions were still being sold directly from the fields until about three weeks ago. However, the entire crop has now been harvested, and high-quality produce is being stored.
Initially, many farmers rushed their onions to market to recover cultivation costs, temporarily flooding the supply and reducing prices. With the entire crop harvested, farmers are now storing high-quality onions that last longer, allowing more flexibility in sales timing.
Md Abdur Rahim, director at the Department of Agricultural Extension, noted the government suspended onion imports since March to ensure local growers receive fair prices. Onions are typically planted in December and reach markets around March or April.
Earlier, farmers expressed concerns over market prices falling below production costs. According to Agriculture Secretary Mohammad Emdad Ullah Mian, farmers spent between $0.32 and $0.44 to produce each kg of onions this season. The DAE estimates total output to exceed 39 lakh tons, with a projected need to import an additional 6-7 lakh tons to cover post-harvest losses.
Saiful Islam, a Dhaka resident, noted an abrupt price increase of $0.09-$0.14 per kg. Nurul Alam Shikdar, a retailer, confirmed local onion prices have jumped to $0.64 per kg.
Md Kalam Sheikh, a wholesale trader, cited higher buying prices from farmers or suppliers as the reason for elevated prices in Dhaka's markets. Mohammad Abdul Mazed, from the Shyambazar Onion Wholesalers Association, attributed the price rise to insufficient supplies despite the harvest season.
In Pabna, wholesale prices have surged past $18.32 per maund (37.65 kg), up from $7.33-$9.16 a month ago. Md Robiul Islam, a wholesaler, explained that farmers are now storing onions for longer periods due to their quality, impacting market supply.
Faridpur's Saltha upazila also sees rising prices, with rates reaching $15.57-$16.48 per maund. Kamal Hossain, a wholesale trader, observed that farmers and traders are holding onto produce, anticipating further price increases.
Agriculture Secretary Mian stated that a fair retail price should be around $0.55 per kg, considering a 15-20% margin over production costs. "When onions were selling below $0.55 in retail, farmers were largely incurring losses," Mian said.
Source: Asia News Network