Onion prices go down as import increases

Prices of onion have gone down in the local markets of Dinajpur as imports of Indian onion increase through the Hili Land Port.

Retailers and wholesalers said that the prices have fallen because the supply has exceeded demands.

To keep the country’s market stable, the government allowed the import of onions from July 5 after a two-month ban.

The imports have increased after the Eid-ul-Azha holidays and the prices have gone down since.

Last week, onions were sold at Tk 30-32 per kg in the wholesale market, but the prices were reduced by Tk 10 per kg on Friday.

Currently, onion is being sold for Tk 23-25 per kg in the retail markets.

Swapan Munshi and Sakawat Ali, wholesalers of the Hili port bazar, said that the import of onions through the Hili port was stopped due to the expiration of import permits.

Onion prices have started to come down in the wholesale and retail markets as imports began again.

Alhaj Bablur Rahman, an onion importer of Hili port, said that the import of onions has started again through this port as the government has given new permission to import onions.

“Onion prices are low in India so the imported onions are being sold at Tk 20-21 per kg in wholesale markets. The prices will fall further as import increases,” he said.