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Onion retails still high despite fall in wholesale hubs

  • Published at 11:32 pm October 2nd, 2019
Mehedi Hasan/Dhaka Tribune

'We are retailing onion at our purchase price from wholesale market, sometimes at even lower prices if other costs are considered'

Prices of onion were still high at retail markets in the capital, while the prices saw a fall by Tk10 to Tk20 per kilogram at wholesale markets on Wednesday.

Besides, the prices of onion slightly decreased both at retail and wholesale markets in the port city of Chittagong amid rising imports.  

Visiting several kitchen markets in the capital, including Polashi, New Market and Hatirpool, local onion was found selling at Tk100-110 per kg and Indian onion at Tk 95-100 on an average.

Retailers said the prices remained almost unchanged on Wednesday, compared to a day earlier. 

“We are retailing onion at our purchase price from wholesale market, sometimes at even lower prices if other costs are considered,” claimed Habibullah, a new market-based retailer.

He said the prices of onion at wholesale markets fluctuated several times in just two or three days, which led many of them (retailers) to stock a good amount creating a fear of further price hike. 

“As a result, we cannot reconcile the price with current wholesale market until selling our stock out,” the retailer added.

Habibullah, however, believes that the prices will fall within a or two days in retail markets.

The onion prices came down by Tk10-20 per kg at wholesale markets on Wednesday following news that a good amount of onion from Myanmar was on the way.

Golam Mawla, a resident of Hatirpool, said the traders upped the onion price as per their wish when they found a slight supply shortage.

“But they do not reduce the price immediately despite high supply,” he claimed, calling for strong market monitoring. 

While visiting Shyambazar and Karwanbazar, the two wholesale markets in the capital, local onion were found selling at Tk85-90 per kg on Wednesday, which was Tk105-110 a day earlier. 

Indian onion price fell to Tk80 per kg yesterday from Tk90 on Tuesday. Though the onion was available at Karwan Bazar, many outlets at Shyambazar wholesale markets had no stocks for sale.

Besides, price of the onion from Myanmar fall to Tk40-50 per kg, which was Tk60-70 earlier. The onion was found available only at Shyambazar.

Our Chittagong correspondent, after visiting a number of retail markets and Khatunganj wholesale market in the port city, reported that the onion prices fell slightly.

In retail market of Chittagong, onion was found selling at Tk90-95 per kg on Wednesday, which sold at Tk 100-110 a day earlier.

The onion was selling at Tk60-70 per kilogram at Khatunganj wholesale market, informed Md Edris, general secretary of Hamid Ullah Market Traders’ Association.

“Now there is adequate stock in the wholesale market. Some 25 trucks laden with onion of different varieties entered the commodity hub on Wednesday,” the wholesaler told Dhaka Tribune.

He hoped that the price would drop further with the increase of imports. Moreover, locally produced onion would come to the market on December, he said.

Md Firoz, a Karwan Bazar-based wholesaler, said the prices of locally produced and imported onion started to decrease because the markets had now sufficient supply.

He said the price would come down more.

The onion prices in the country’s retail and wholesale market jumped to all time highs, after India had imposed a ban on onion exports on September 29.

Importers then looked for new source of onion and started importing from Mynmer, China, Pakistan, Egypt and Turkey.