Prices fell by Tk 10 per kg on Sunday on news of resumption of imports from Saturday
The price of imported onion in the country has dropped by Tk 10 per kg within a day after the ban on Indian onion exports was lifted after five months.
Low-income people in Healy expressed their satisfaction with the price reduction. Importers expect prices to drop further as onion shipments start arriving.
A visit to Hili port on Sunday (May 5) afternoon revealed that the supply of local onions has increased in all shops. Although onions were sold at Tk 70 per kg on Saturday, traders are now selling them at Tk 60 per kg.
Sabuj Hossain, a buyer at Hili market said, “Since Eid, the price of onions has increased from Tk 50 to Tk 70-75. Rising prices have made it difficult to meet household expenses, forcing them to cut back on purchases. I could buy it at 60 taka per kg.
Ashraful Islam, a resident of Hili, said, “The price has fallen by Tk 10 per kg on Sunday due to the news of the resumption of imports from Saturday. Traders raised prices as supplies were limited. All of a sudden, onions have increased in all the shops on Sunday. Indian onions are yet to arrive, we urge the government to intervene and regulate the onion market to stop market manipulation by traders.”
Abul Hasna, an onion seller at Heli Bazar, said, “The country was dependent on indigenous onions for several months due to the suspension of imports.” Many traders stocked onions around Eid-ul-Azha, which pushed the price up to Rs.70. Following India’s decision to lift the export ban on Saturday, imports are expected to resume. Market supply has increased on this news, stockpiler prices have come down by Rs 300-400, with further price reductions likely as imports resume. He said, “The country has been dependent on indigenous onions for months due to the suspension of imports.”
