Onion price leaps from Tk 35 to Tk 60 in a week, vegetables stay costly

Even without the new stock in hand, traders are selling cooking oil at the higher government-set price

Despite the uptick in summer vegetable availability, market prices have fluctuated little, remaining anchored at the previous week’s rates.

But the same cannot be said for onions and bottled soyabean oil, which have seen a rise in prices over the week.

A visit to Dhaka’s Mohakhali, Sattola and Niketan kitchen markets on Friday revealed that onions were selling for Tk 50–60 per kg, up by Tk 10–20 from last week.

Sellers say the price of this staple may continue to rise gradually as the season draws to a close.

“Last week onions were selling at Tk 35 to 40. Now we’re forced to sell at Tk 50 to 60 per kg as prices have gone up wholesale,” said Faruk Hossain, owner of Ripa General Store at Sattola market.

“The season is over for onions, and that’s when prices typically climb,” he added.

The buyers, however, are not convinced by the explanation.

Mohammad Riaz, a private jobholder who came to buy onions at the market, told bdnews24.com: “Let’s say prices have risen wholesale. But these traders don’t bring in fresh stock daily. Surely this is old stock.

“They could have sold it at the previous rate, but they won’t.”

Another buyer, Jesmin Begum, said: “I bought onions for Tk 35 per kg about a week ago. Now the better ones are Tk 60, the rest are Tk 50.

“Had I known, I’d have stocked up. I run a small hotel — onions are essential for me.”

At Mohakhali kitchen market, vendor Al Amin said: “This year, Ramadan coincided with the onion and vegetable season, so prices were low. Now farmers are out of stock.

“The remaining onions are in cold storage with wholesalers, and they’ll now control the supply and raise prices.

“It might go up even more,” he added.

OLD STOCK OIL BEING SOLD AT NEW PRICE

The interim government has raised the price of bottled soyabean oil by Tk 14 per litre after five months in response to traders’ demands.

Although the newly priced bottles have not yet fully entered the market, vendors are already selling old stock at the revised rate.

The new official price for a one-litre bottle has been fixed at Tk 189, while the five-litre bottle now costs from Tk 852 to Tk 922.

The price of loose soyabean oil has also gone up by Tk 12, now set at Tk 169 per litre.

On Sunday, Commerce Advisor Sheikh Bashir Uddin said: “We’ve revised the prices of soyabean oil based on the international market and [Bangladesh Trade and Tariff Commission] formula.”

“According to the formula, each litre of [soyabean] oil costs Tk 197,” he added. “But we set the price after discussing it with industry stakeholders.”

Citing the withdrawal of tax exemption benefits as the reason for the price hike, the advisor said: "The government exempted tax for cooking oil.

“This caused a Tk 5.5 billion drop in revenue collection per month."

The previous price adjustment took place on Dec 9, 2024, when the rate was raised to Tk 175 per litre.

Despite this, market supply had not returned to normal even after five months.

Buyers had complained of paying more than the labelled price and being forced to buy extra items with the oil.

Shoppers on Friday shared similar concerns with bdnews24.com, saying some vendors were selling bottles labelled Tk 175 at the latest rate.

Md Hafez, a customer at Sattola Market, said: “I bought bottled oil for Tk 190 [on Thursday]. The bottle is labelled as Tk 175.

“When I asked about it, the seller said he had to purchase it at a higher price and wouldn’t make a profit if he sold it at the labelled rate.”

Vendor Jewel Mia from the same market said the newly priced bottles would start arriving within a few days, after which the confusion over pricing would no longer be an issue, as sellers would also be purchasing at the adjusted rates.

PRICES OF SUMMER VEGETABLES HOLD STEADY

Although prices of summer vegetables remain somewhat high, they have shown little change this week, with most items selling at last week’s rates.

In Dhaka’s retail markets, aubergines are selling for Tk 60 to 80 each kg, bitter gourd for Tk 70 to 80, yardlong beans for Tk 90, pointed gourd for Tk 70 to 80, okra for Tk 60, sponge gourd for Tk 70 to 80, snake gourd for Tk 80, and taro stolon for Tk 80.

Spiny gourd, however, is drawing attention for its high price, retailing at Tk 130 to 140 a kg.

Moringa drumsticks are also on the higher end at Tk 140.

Papaya at Tk 50, and green chillies range between Tk 60 and 80 per kg.

Among winter vegetables, flat beans are selling at Tk 60 to 80 per kg while bottle gourd is priced at Tk 60 to 70 apiece.

Depending on the size, ripe tomatoes cost Tk 30 to 50 per kg, carrots Tk 50, radish Tk 60, and cucumber Tk 50 to 60.

Prices for lemons, which had soared during Ramadan, have eased to Tk 20 to 40 per four-piece pack.

Coriander leaves are selling at Tk 140 per kg, green bananas at Tk 40 per four, capsicum at Tk 150 a kg, and sweet pumpkin at Tk 30 to 40.

Larger ash gourds are available for Tk 50 to 60 apiece.

Zainal Hossain, a vegetable trader at Niketan kitchen market, said: “Prices of summer vegetables are still slightly elevated. It’ll take a bit more time for rates to fall. We’re hoping prices will ease as supply increases.”