Onion prices go down in Hili wholesale markets

Due to increased import compared to demand, prices of onions have gone down in Hili, Dinajpur by Tk 5 per kg in two days.

Onions were being sold at Tk 27-28 per kg in the wholesale market of Hili Land Port last week but the prices have gone down to Tk 22-23 per kg

on Monday.

Low-income people, including wholesalers, who came to the port to buy onion, are relieved by the reduction in onion prices.

According to local traders, demand for Indian onions had increased due to the price rise of domestic onions. However, due to low imports, the prices of Indian onions were still high in the wholesale markets

Traders were hesitant on buying imported onions due to constantly fluctuating prices. However, as the prices have gone down again, traders are showing more interest in buying imported onions from the wholesale markets.

In addition to the dollar crisis, many importers were unable to import onions due to not having Letters of Credit (LC). Currently, banks have started issuing LCs to importers which has led to an increased supply.

Sohrab Hossain Pratab Mallik, public relations officer of Panama Hili Land Port, said the import of onion through the port has increased slightly.

“Last Thursday, 334 tonnes of onions were imported on 12 trucks via the port. By Saturday evening, a total of 21 truckloads of Indian onions have come through,” he said.