TCB cuts onion prices by Tk 10 a kg

The Trading Corporation of Bangladesh has reduced the onion prices by Tk 10 in line with the current market rate.

The consumers will be able to buy onions at Tk 35 instead of Tk 45 a kg from Monday, according to a statement.

About 200 truck-loads of onions, including 50 in Dhaka, were being sold per day across the country, the government trading arm's spokesman Humayun Kabir told bdnews24.com.

The government started selling onions at Tk 45 per kg from Sept 17 in an effort to offset the spiralling prices of the cooking ingredient in the market triggered by India's decision to curb exports.

“It has been decided that onions on trucks will be sold at Tk 35 a kg from Dec 23 considering the current market situation. This decision will remain in effect until further notice,” said the statement.

Every day, around 1,000 kg of onion is sold on trucks. A consumer can buy a maximum of two kg.

At several markets in Dhaka on Sunday, home-grown new onions were being sold at Tk 90 to 110 per kg, which were Tk 100 to 120 per kg a week ago, and imported varities at Tk 60 to 120 a kg, which were Tk 60 to 140 per kg a week ago.

“Onion prices are on the decline,” said Abdul Awal, a trader at Karwan Bazar, told bdnews24.com.

Local better-quality onion was being sold at Tk 100 per kg and onion with relatively low quality was priced at Tk 80 to 90 a kg, he said.