The price of onions has increased by Tk 40 in three days at retail markets of Chattogram. The price of onions in wholesale markets currently ranges from Tk 95-110 per kilogram, up from Tk 70 retail price just three days ago.
Khatunganj, the largest wholesale market in the country, is currently selling onions at Tk 95-100 per kg, depending on quality and size.
Ahnaf Hasan Chowdhury, a resident of the Chawkbazar area, is a private job holder and the sole earner of his five-member family.
“Today, (Sunday) on my way home from work I bought onions for Tk 100 per kg. The same onion I had bought for Tk 70 on Thursday. If the price of everything goes up like this, it will be difficult to afford meals twice a day," he told The Business Post.
Traders said the increase in onion prices in India is also causing prices to rise in the country's market.
“Our onion market has become dependent on India. If there is an increase in prices there, an export duty, or an increase in the cost of imports, prices increase in the domestic market,” a trader said.
Onion dealers in Chattogram collect Indian onions from border land ports and fix the supply and price to different places including Khatunganj and Pahartali Bazaar. They receive a commission per kg by selling at that rate. Onions are also imported from Pakistan and China, but they are not currently available in the market.
However, importers are planning to import onions from different countries by sea to mitigate the risk of a crisis.
Safa Traders and AH Traders, two wholesalers in Khatunganj, are selling Indian onions at Tk 95 and Tk 95-98 per kg, respectively, although the listed price is Tk 110-120.
When asked about the discrepancy, the manager of Safa Traders said, “The association asked us to sell at that price, but there are no buyers. So I am selling it at a lower price.”
Uttam Kumar Saha, the owner of Bengal Traders, said, “Indian onions are being sold wholesale at Tk 90-100 per kg. Yesterday, they were sold for Tk 70-80.”
On Saturday, a grocery store in the Gulzar Mor area of Chawkbazar sold onions for Tk 95 per kg. On Sunday, the price increased to Tk 110. However, hawkers were seen selling small onions for Tk 100.
