Local onion prices soar above Tk150 per kg
In response to the recent price surge, the Bangladesh Trade and Tariff Commission has recommended a temporary withdrawal of the 5% import tax on onions to control prices
In Dhaka, the price of locally grown onions has surged by nearly Tk25 per kilogram within the last two weeks.
Today (1 November), a visit to major markets like Karwan Bazar, Kalyanpur, and Hatirpool revealed that high-quality local onions were being sold for Tk155 to Tk160 per kilogram, compared to Tk130-135 per kilogram two weeks ago. Meanwhile, second-grade onions were available at around Tk135 per kilogram.
Traders attribute this price hike to the seasonal depletion of local onion stocks.
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"Every year around this time, local onion stocks begin to run low, leading to higher prices. To meet the demand, we rely on imported onions," said Mohammad Abdul Majed, a wholesale onion seller at Shyambazar.
Majed further said second-grade local onions are currently being sold wholesale at Tk120-125 per kilogram, marking a Tk20 increase over the past two weeks.
He also noted the scarcity of first-grade local onions, saying, "Due to the shortage of local onions, prices rise every year around this time. However, there's no shortage in the market now due to imports. Indian and Pakistani onions are being sold at Tk90-92 per kilogram in the wholesale market."
"Imported onion prices haven't increased much in the wholesale market. Local 'murikata' onions will start arriving in a few days, which should stabilise the market. Until then, imports will continue to be necessary," he added.
Meanwhile, Anwar Hossain, an onion seller in Kallyanpur Notun Bazar area, said, the price of large Indian onion is Tk130 per kg, while its smaller variant is Tk120 per kg.
In response to the recent price surge, the Bangladesh Trade and Tariff Commission has recommended a temporary withdrawal of the 5% import tax on onions to control prices.
In a letter to the National Board of Revenue (NBR) yesterday (31 October), the commission proposed lifting the tax to ease prices in the local market.
Previously, the NBR removed the regulatory tax on onion imports in September, a measure set to remain in effect until the end of November.
