Continuing the trend of increasing onion prices in the country, traders have once again increased prices of onion by Tk 10-18 per kg, blaming a supply crisis against market demand.
Onions sold at Tk 45 per kg even a week ago are now being sold at Tk 55-60. Besides, onion imported from Myanmar is being sold at Tk 53 per kg in the wholesale market and Tk 57 per kg in the retail market.
Moreover, traders have also increased the price of garlic on the pretext of a supply crisis. The price of this essential commodity has gone up from Tk 100 per kg to Tk 114.
The price of onion has been on the rise for the past three weeks because of a decline in imports, traders have said.
However, consumers are reluctant to accept the explanation and demanded strong supervision before the market becomes too volatile to handle.
SM Nazer Hossain, vice president of the Consumers Association of Bangladesh said the sudden rise in onion prices is due to the manipulation of traders as the market is not being properly monitored by the authorities concerned — traders are arbitrarily controlling the market. He urged the authorities to look into the matter.
Chattogram Deputy Commissioner and District Magistrate Mohammad Mominur Rahman said, "A team has been formed to monitor the consumer goods market. Legal action will be taken against anyone found manipulating market prices."
The production of onion in Bangladesh is 18 lakh tonnes a year while the demand is 22 lakh tonnes. The remaining 4 lakh tonnes are imported from different countries to address the deficit.
