Chattogram: Indian onion has started reaching the local market, resulting in a sharp drop in prices in both retail and wholesale markets of this essential kitchen item. The wholesale market price of local onion in the country’s biggest wholesale commodity hub, Chaktai-Khatunganj market, has declined by up to Tk 10 per kilogram in just three days as the government has granted permission to import onion from India.
According to Bangladesh Sangbad Sangstha, 100 tons of Indian onion have been imported through Sonamasjid land port, with the government allowing five commercial firms to import an additional 150 tons through Hili land port. This increased supply from India and other countries is expected to further reduce prices over the next couple of weeks.
Commerce Adviser Sheikh Bashir Uddin indicated during a meeting at the Ministry of Commerce on August 12 that the government has begun issuing Import Permissions (IP) for onion imports from any country to control the price hike. On August 15, local varieties o
f onion were sold at between Tk 65 to Tk 70 per kilogram in the retail market. Prices had risen from August 2, reaching up to Tk 75-Tk 80 per kg by August 12 in the wholesale market. Consequently, consumers had to pay between Tk 90 to Tk 100 per kg at retail shops.
Wholesale traders in Khatunganj reported that 100 tons of onions were imported by two importers in Chapainawabganj after receiving ministry permission on August 12. The onions entered Bangladesh through the Sonamasjid land port on August 14, leading to a downward price trend. A visit to the Katunganj-Chaktai areas today showed that onions produced in Pabna and Faridpur are being sold at Tk 60 to Tk 65 per kg, compared to Tk 75 just two days ago.
Local farmers produce around 18 lakh metric tons of various local onion varieties, such as Taherpuri, Bari-1, Bari-2, Bari-3, and Faridpuri, meeting more than 80% of the annual demand of 22 lakh metric tons. Md Idris, the general secretary of the Khatunganj Hamidullah Mia Market Traders Association, expla
ined that onion prices fluctuate based on supply and demand, with no control exerted by hoarders. He emphasized that traders operate on a commission basis, with prices set by importers.
Union importer Mobarak Hossain mentioned that a reduction in local onion supply was responsible for the price increase, suggesting that the government should permit all importers to address the situation. Consumer Korban Ali accused certain importers and traders of making kitchen items costlier to gain quick profits.