Onion market becomes normal

  • আপডেট টাইম : September 20 2020, 22:18
Onion market becomes normal

Amdadul Haque:

After several days of turmoil, the onion market is now back to normal as the price of onion was increased abnormally by creating an artificial crisis through the syndicate.

Prices are coming down with the arrival of Indian onions. At the same time onions have started coming from Myanmar, Turkey, Egypt and China.

As a result, there is no more panic about the onion price, the anxiety of the consumers has decreased. The government hopes to sell onions at earlier prices within the next one week.

Moving around several markets of the capital on Sunday, the wholesale price of onion fell by Tk 10 per kg as compared to Friday. And in the retail market it has come down to 15 taka. Traders said the onion price will fall further.

In different retail markets of the capital, local onion is being sold at 80 to 90 taka per kg, which was 90-110 taka on Friday. On the other hand, imported Indian onions are being sold at Tk 60-70 per kg, which was Tk 70-80 per kg on Saturday.

On September 14, India stopped exporting onions to Bangladesh without prior announcement. As a result, the price of onion, which was sold at Tk 60 per kg on the same day, increased to Tk 120 in the retail market. And the wholesale price increased from 50 to 85 taka per kg. Frightened by the price hike, the buyers rushed to buy extra onions.

After 10 days, relief has started to return to the onion market in the country. The government hopes that onions will be sold at the previous price within the next one week.

However, market analysts and diplomatic analysts have suggested to import onions from other countries as an alternative, sell onions in the open market at a fair price and to keep a close watch on syndicate traders and stockiest.

Market analysts said it is necessary to address how the price of onion jumped in the country’s market within a day after India stopped exporting. Even if the market comes under control, the government will have to find unscrupulous traders’ syndicates and bring them under punishment and market monitoring must be strengthened.

However, on Saturday, trucks carrying onions imported from India started entering Bangladesh through Healy port. Till Saturday evening, 11 trucks of onions have been imported through the port. 8 trucks of onions have entered Bangladesh through Sonamasjid land port in Chapainawabganj. 213 tons of onions arrived in that 8 trucks. About 500 tons of onions are still stuck on the India border. Besides, 25-30 trucks of onion entered Bangladesh through Bhomra land port of Satkhira.

Besides, after India stopped exporting onions, imports from Myanmar have started as an alternative country. On Saturday, the first shipment of onions arrived from Myanmar. 30 tons of onions were imported in two trawlers.

According to the Ministry of Commerce, the price of onion has been increased abnormally by creating an artificial crisis through a syndicate. Last year too, the unscrupulous clique took advantage in the same manner. This time the Bangladesh Competition Commission (BCC) is working to prevent monopoly in the country’s market, has organized a meeting this week. Representatives of the Ministry of Commerce, Tariff Commission, Ministry of Agriculture and intelligence agencies will be called for the meeting.

The Commerce Minister Tipu Munshi recently said that the government has taken various initiatives from day one to bring relief to the onion market. Meanwhile, a consignment of onions has arrived from Myanmar. Onions will be imported through the country’s top consumer goods traders. Besides, TCB has already announced the sale of onions online. TCB’s online sales activities are going to start soon. Hopefully we can control the onion market.

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