The retail prices of local varieties of onions have surged to a maximum of Tk165 per kilogram in different kitchen markets in Dhaka.
The price was witnessed in the kitchen markets on Monday.
The sudden hike of onion price has deepened the difficulties of low and fixed-income individuals.
Meanwhile, the imported Indian onion is being sold at Tk120-130 per kg.
Price of the local spice witnessed a Tk40-45 a kg hike in last four to five days, said groceries.
Traders attributed the hike to higher import cost and a depleting stock of local crops.
Traders attributed the price increase to rising import costs and a dwindling supply of local crops.
According to them, wholesalers are not getting local varieties of onions as per demand, so prices are quite high.At the end of the season, farmers have low stocks of onions. As a result, the supply of local onions in the market has decreased. Additionally, heavy rainfall has delayed the planting of new onions. Meanwhile, the prices of imported onions have also risen somewhat.
Wholesalers and consumers have expressed frustration over the sudden price hike, affecting their ability to purchase onions at affordable rates.
meanwhile, importers explain that prices are temporarily impacted by Diwali market closures in India, and they anticipate stabilization within a week.
On Saturday, 991 tons of onions—Indore, Nashik, South, and Nagar varieties—arrived from India in 34 trucks.
In November 2023, local varieties of this popular cooking ingredient were being sold forTk150 per kg in Dhaka.
Bangladesh has a demand for 3.2 to 3.5 million tons of onion annually. The country produces 2.7 to 3.0 million tons.
