Onion prices drop as import continues

The prices of onions have gone down by Tk 30 in Dinajpur’s Hakimpur upazila within a week as the import of onions from India has started in full swing through the Hili Land Port.

Onion import from India started on June 5 after the government issued import permits (IP). As a result, the prices have slightly eased in the domestic market.

The domestic variety of onion was sold at the rate of Tk 85-90 taka per kg in the retail markets last week but the price has come down to Tk 60 per kg now.

Indian onions are being sold in the retail market at the rate of Tk 40 per kg. Depending on the variety, onions are being sold at Tk 34-38 per kg wholesale rate.

During a visit to the Hili market on Friday, this correspondent talked to several buyers and traders regarding the prices of onions.

Buyer Abdur Rahim expressed his relief at being able to buy local onions for Tk 60 per kg. Another buyer Md Saiful Islam said that especially for the mid and low-income this is a relief. “The prices have almost halved. I am glad that I can buy the kitchen essentials for my family now.”

Md Mainul Islam, a retail seller at Hilli market, said that before the import began, they bought onions at a wholesale rate of Tk 80 and sold at Tk 85 to 90. But due to the supply of Indian onions, the prices of the domestic variety have lowered.

Ferdous Rahman, a wholesale onion seller, said, “We are buying Indian onions from the traders at the rate of Tk 34 to Tk 38 and selling them at the retail rate of Tk 40 per kg. At the beginning of import, Indian onions were being sold at Tk 45.” He added that as the supply is increasing, the prices are going down.

Onion importers Md Kamal Hossain and Zakir Hossain said that they are regularly importing after receiving IP. They expect the prices of Indian onions may go down further as import increases.

Sohrab Hossain Mallik Pratap, public relations officer of Panama Hili Port Link Ltd said the import of onions through the port was stopped since March 15 due to a lack of IP. After IP was issued by the government on June 5 onion import from India started from the afternoon of that day.

According to Hili Customs sources, about 60 tonnes of onions in 3 Indian trucks on June 5, about 840 tonnes in 42 Indian trucks on June 6, about 260 tonnes in 13 Indian trucks on June 7 and about 280 tonnes in 14 Indian trucks on June 8 were imported.

In total about 1,460 tonnes of onions were imported in 73 Indian trucks in 4 days after IP was issued.