In the past two days, onion prices dropped by at least Tk 20 per kg in the Dhaka’s kitchen markets, but there was no reflection on retail markets, traders and consumers say.
At several kitchen markets of the capital, it was found that onion was being sold at prices ranging from Tk 130 to Tk 140 per kg. However, the local variety was being sold at Tk 155 a kg and Indian onion at Tk 145 a kg.
Last week, the price of the essential cooking ingredient was Tk 120 a kg on average.
The onion price has dropped by Tk 20 a kg in past two days, trader Idris Ali Madhu at Shyambazar wholesale market told bdnews24.com on Friday.
But the retailers said they had to purchase onion still at a higher rate from the wholesalers. They said they were buying onion at Tk 130 a kg and selling at Tk 140.
Kanchan, a retailer at Mohakhali kitchen market, said he bought onion at Tk 130 per kg from a wholesaler at Karwan Bazar. He was selling local onion at Tk 140 a kg.
Giasuddin, a retailer at Jaffarabad area of West Dhanmondi, said he purchased onion at Tk 128 to Tk 130 a kg from the wholesalers at Rayer Bazar.
On Friday, local onion was being sold at Tk 110 per kg and imported onion at Tk 90 to 100 per kg at Shyambazar and Mirpur-1 wholesale markets.
The onion prices continued to skyrocket since Sep 29 when India banned onion export to control domestic markets. However, recently India has allowed export of 9,000 metric tonnes of onion through Chennai port.
Only Malaysia will benefit from it as it is difficult and time-consuming for Bangladeshi businessmen to import onions through the port, according to Abdul Majid, an importer at Shyambazar.