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Onion prices – which increased yet again since last month – have raised concerns among consumers, as the holy month of Ramadan is just around the corner.
A number of onion farmers and field level agriculture officials however assured that onion prices will gradually decrease in the next two to three weeks, and there is currently no possibility of further increase in the price of this essential kitchen ingredient.
According to the Department of Agricultural Marketing (DAM), local onions are being sold for Tk 110 – Tk 120 per kg at the retail level in various kitchen markets of the capital, which was Tk 80 – Tk 90 per kg even a month ago.
At the farmer level, local onions are being sold for Tk 80 – Tk 90 per kg in various districts, including Pabna and Faridpur.
According to Government Trading Corporation of Bangladesh (TCB) data, onions were being sold for Tk 30 – Tk 35 per kg during mid-February last year. The prices of this essential product have increased by 31 per cent in the last one month.
Onions are now being sold at 228 per cent higher prices compared year-on-year.
Agriculture officials said the main season of onions in the country starts in March, but the Murikata varieties of onions are harvested during the months of December and January, which fulfills the demand to a large extent.
According to the Spice Research Center, which operates under the Department of Agricultural Extension (DAE), annual demand of onions in the country is 27 lakh – 28 lakh tonnes, and production is 32 lakh – 35 lakh tonnes.
Eighty per cent of local production of onions comes during the March-April period. So onion prices are the lowest during this timeframe. However, despite this, the country has to import 5 lakh – 6 lakh tonnes of onions.
In the country, the Murikata variety of onion is still coming out from different districts. Apart from this, onions are also being imported from the neighboring country India. As a result, there is no problem in onion supply.
But still, no one has an answer to why the price is so high compared to last year.
Dr Md Jamal Uddin, deputy director of DAE Pabna, which is one of the biggest onion hubs in Bangladesh, told The Business Post, “So far, our calculations say the main onion season will start in the next two weeks.
“In different upazilas of Pabna, including Sathia and Bera, the harvest of Hali varieties of onions will begin. The price of onions will then start decreasing again. Onions can be fully grown from the field within three to four weeks.”
He continued, “Both the onion yield and cultivation have increased this year. As a result, when the season starts, there will be more supply of onions in the market than last year. In Pabna district, 44,600 hectares of land has been used for onion cultivation this year, which is 1,000 hectares compared to last year.”
Md Imran Hossain, a farmer of Boalmari Upazila of Faridpur – another onion hub in the country, said, “Till now, the overall situation says the yield of onion will be higher compared to last year. We will be able to harvest onions in the next three to four weeks.
“When these onions arrive in the market, the current prices will decrease by half.”
He added, “Farmers are currently selling Murikata onions for Tk 82 – Tk 85 per kg, which was Tk 95 – Tk 100 per kg three days ago.
“Last year, when the main season of onion began, prices came down to Tk 45 – Tk 48 per kg. Onions were being sold for Tk 28 – Tk 29 per kg at the farmer level in the middle of the season that year.”
