Onion prices soar by Tk 30 per kg in a week

The retail price of onions in Dhaka has jumped by up to Tk 30 per kilogramme in just a week, driven by a sharp drop in supply.

Traders attributed the sudden spike to dwindling imports and the end of the local harvest, warning that prices could climb further if new shipments do not arrive soon. Some also accused unscrupulous traders of hoarding onions to cash in on the shortage.

They said the market has been heavily reliant on domestic production this year as imports have remained unusually low.

Sajib Sheikh, proprietor of Messrs Matri Bhandar at Karwan Bazar, said supplies had been normal until October but have since shrunk.

"We bring onions from Faridpur and Pabna. Since the beginning of the week, wholesale prices there have been rising, reaching up to Tk 28 per kg," he said.

He added that recent rainfall damaged part of the onions stored by farmers, worsening the supply crunch.

Several traders at Karwan Bazar said some wholesalers have started stockpiling onions, which may further destabilise the market.

Mohammad Mazed, general secretary of the Wholesale Onion Traders Association and also an importer, said fresh local onions will reach the market in about six weeks. "Until then, there will be a shortage in supply," he said.

He added that onion imports from India have been suspended for a long time, putting extra pressure on the local market.

"To keep prices stable, imports must resume immediately; otherwise, prices may rise further," he warned, urging quick government action.

During visits to kitchen markets, including Shewrapara, Kazipara, Ibrahimpur, New Market, Hatirpool, and Karwan Bazar, local onions were found selling for Tk 110–120 per kilogramme.

Mohammad Yusuf, owner of Yusuf Sabjibitan, said, "Last week we sold onions for Tk 80–90 per kg, but now it's Tk 115-120. We don't know why prices have suddenly increased. Wholesalers couldn't give us a clear answer."

Monir Hossain, a resident of Ibrahimpur, said, "I bought onions for Tk 80 per kg last week, but today it's Tk 110. If there was a shortage, prices should have gone up gradually, not overnight."

"I now have to spend an extra Tk 60 for just two kilograms of onions. For people with fixed incomes like me, it's a real burden," he added.

Mohammad Rony, a grocery shop owner, said he stopped selling onions for a few days after the price hike as customers protested.

"But now I'm selling them at Tk 110 per kg since everyone else is selling at the same rate," he said.