Onion prices witnessed a noticeable hike in the past few days after remaining steady for almost two months.
Oddly enough, the vegetable is now seeing a Tk5-15 or 15% hike per kg on average despite bumper yield and cheaper imports, according to the trading corporation and city groceries.
Market experts think the sudden hike by such a large margin is abnormal, suggesting intervention of the monitoring agency.
Wholesalers and retailers, however, shifted blame to each other for these soaring prices.
Locally produced onions retailed at Tk55-65 a kg which was Tk45-50 earlier, according to kitchen markets and groceries in Dhaka city.
Imported Indian onions sold at Tk45-50 a kg on the day depending on quality.
It was Tk35-45 three days ago.
The Trading Corporation of Bangladesh recorded an average 15% hike in onion prices in a week.
But there is no shortage of the vegetable as production during the December-April period was outstanding amid the introduction of hybrid varieties in many new areas, insiders said.
According to the agriculture extension department, onion production reached an all-time high of 3.5 million tonnes in fiscal year 2021-22 when import was at a three-year high of 650,000 tonnes.
