Attempts to increase the prices of domestic onion
photo: Collected
Even after India lifted the onion export ban, a class of unscrupulous circles manipulated the product. After the import, the price of all types of onion is expected to decrease if the supply increases.
But, the domestic price is being targeted at Tk. 100 per kg which is currently being sold at Tk. 60-70 per kg. A month ago it was sold for Tk. 45-50.
Market analysts said that strict measures should be taken so that onion prices do not increase unreasonably. Otherwise the consumer will be cheated by buying the product.
Meanwhile, importers said that the export price of onions from India has been fixed at 550 dollars per ton. Due to which the price per kg may fall to Tk. 70 in local currency. Tk. 75-80 in wholesale and retail price will increase slightly to Tk. 85-90. Hence there was a need to further reduce export prices from India's side. Because a lot of onions have been produced in India this time.
On Sunday (May 5), it is learnt that after visiting several retail markets including Kawran Bazar, Nayabazar, Shantinagar Kitchen Market and talking to the sellers, on this day, per kg of local onion is being sold at Tk. 60-70 which was sold at Tk. 65-75 earlier (two days ago) before the news of Indian onion export.
And a week ago it was sold at tk. 58-60 Which was sold a month ago for tk. 45-50.
Nayabazar onion seller Ismail said that the big traders in the wholesale market are manipulating the price of onion again. According to the news of export from India, the price has reduced by Tk. 5 per kg and the retail level is selling by Tk. 5. But, when they calculated, they found that India's onion import cost is Tk. 70 per kg.
And the price of that onion to come to the retail market from the wholesale market is about Tk. 90, since then the price of domestic onion has risen. They are saying that the price of local onion will increase from now. So wholesale is asking to buy more from now.
They also said that later the price of the local variety will increase to Tk. 80-85 at the wholesale level which is being sold on Sundays at Tk. 55-65.
He said that if it takes more money to import onion from India, then that onion will be sold at a higher price at the wholesale and retail levels. That's what's supposed to happen. But, currently, per kg of local onion is being sold wholesale at Tk. 55-65. How will that onion sell Tk. 80-85 in the wholesale market? How can the price of the same onion be Tk. 30 more per kg? All their manipulation. To maintain the market price with imported onion, they have made a table to increase the price of domestic onion to make additional profit. If onion is sold at Tk. 80-85 at the wholesale level, the price of domestic onion at the retail level will be above Tk. 100. That seems to be what they are targeting which is absurd. Administration should pay attention.
The wholesale onion traders of the capital's Kawran market said that the export of onion from India through legal channels was stopped for a long time. So the supply has to be fixed with local onions. But the price of onion in India is high.
The export price has been fixed at 550 dollars per ton. As a result, that onion is supposed to be sold at Tk. 75-80 in the wholesale market and Tk. 80-90 at the retail level. So it seems that the price of local onions will also increase along with Indian onions.
Consumers Association of Bangladesh (CAB) president Golam Rahman said that the product should be sold at the same price. But the picture is different in the country. If the import price of a product is high, then the price of the produced product is also increased to make extra profit in the country. Care should be taken to ensure that this does not happen in the case of onions. Monitoring should be strengthened as well as strict action should be taken.
Meanwhile, after visiting Rajganj market in Cumilla city on Saturday (May 4), Director General of National Consumer Rights Protection Directorate AHM Safikuzzaman said that the price of onion may come down to Tk. 50 per kg before next Eid-ul-Azha. This possibility has arisen as India lifted the ban on onion export.
He also said that if the manpower is increased and the law is reformed, the consumer department will be able to work more intensively for the benefit of the people.
Incidentally, India stopped onion exports from December 8. As announced at that time, there was a ban on exports till March 31. However, before the expiry of the period, on March 23, India announced an indefinite ban on onion exports. At that time, the price of onions in the retail market in the country exceeded 100 per kg.
However, in spite of this ban, India last February approved the sale of onions on a limited scale to some countries including Bangladesh, Sri Lanka and the United Arab Emirates. Besides, when domestically produced onions start coming in the market, the price drops to Tk. 40-50 per kg. Later, on the pretext of shortage in supply, the price of onion in the retail market increased again.
