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Onion prices jumps to Tk 110-120 per kg

The prices of local varieties of onion have surged by Tk 10 to Tk 20 per kg within a week.

On Saturday, this essential cooking ingredient was sold at Tk 110 to 120 per kg in the kitchen markets of Dhaka from Tk 90 to 97 per kg.

The traders have increased the onion prices claiming a short supply in the wholesale market from Faridpur and Pabna, the main production hub of the local varieties of onion.

They said the drop in supply is leading to the price hike.

The local variety of onion is selling at Tk 110 to 120 per kg, while the imported onion is sold at Tk Tk97 to 104 per kg on Saturday.

General Secretary of Shyambazar Onion Traders’ Association Mohammad Majed said that the prices of all varieties of local onions increased in the last week due to the supply crunch.

“We are currently importing onions from India where the prices are high,” he said.

The cost of imported onions stands at Tk 90-95 per kg after calculating import taxes, transportation, and other costs. As a result, the cost of imported onion is also high now, he said.

Majed said the price of local variety of onion is higher by Tk 15 to 20 per kg compared to imported one.

Mahmuda Alam, a resident of Malibagh area, said,” Spike in the prices of onion overnight baffled us. What the middle and low income group people will do if prices of meat, vegetable and all other items keep rising this way.”

Johura Beguem, who works as a domestic help in Rajarbag area said,” Prices of everything in kitchen markets is high, now we don’t consider onion as out essential item, try to cook without it most of the time.”

Onion imports from India resumed after nearly six months of hiatus on May 14, 2024, after the Indian government lifted its ban on onion exports on May 4.