With retail price of each kilogram of onion currently peaking at Tk80 in the markets of Dhaka, the Commerce Ministry has directed authorities concerned to strictly monitor the activities of 12 major onion wholesalers.
The capital dwellers have seen onion prices of Tk65 per kg from only a couple of days ago experience a spike to become Tk75-80 per kg, while there are concerns that the price may climb further in the coming days.
Even though the wholesalers are reportedly selling onions to retailers for prices as low as Tk52-55 per kg, there are allegations that the wholesalers are creating a supply shortage that is resulting in the spike in prices.
Hedayetullah Al Mamoon, senior secretary at the Commerce Ministry, told the Dhaka Tribune yesterday: “We have asked the government intelligence agencies to monitor the onion wholesalers and their business activities.
“Although the price for exporting onion has climbed to $250 per tonne from [the previous price of] $175, onion prices should not exceed Tk50 per kg in the local markets,” Hedayetullah added.
Expressing doubts over the Agriculture Ministry’s low estimations regarding onion consumption in the country, the senior secretary said the government should now calculate how much Indian onion was being consumed annually.
Meanwhile, sources inside the Commerce Ministry said intelligence agencies have identified two onion importers of Bhomra land port who had claimed to have imported Indian onions for Tk45 per kilogram when the real price was only Tk25 per kg.
The ministry has now asked the local deputy commissioner to notify those importers regarding the issue.
Earlier, the Commerce Ministry decided to procure onion from Myanmar within a short time to ease price pressures on the local market.
The annual domestic demand for onion is 2.2 million tonnes, of which, 1.923 million tonnes are grown locally.