CAB said traders promptly hike the prices in local markets if international shows go up even slightly. However, when the prices fall in the international market, it is not reflected in the local markets.
The same group of unscrupulous traders, who destabilise the consumer goods market with no reason, remain behind the recent onion price hike in the country.
A press release signed by CAB Central Committee Vice-President SM Nazer Hossain and Chattogram Divisional General Secretary Kazi Iqbal Bahar Chaberi said this Tuesday.
The CAB said traders feel comfortable with selling imported onions although domestic production of the crop can meet most of the demand.
This is because it is a paperless business, and the buyers can be easily fooled by the imported consignments of the cooking ingredient, they explained.
"Some commission agents and hoarders impersonating consumer goods traders are doing this," claimed the CAB.
The association called for stopping the quarter immediately, saying that illicit traders destabilised the onion market in the same way last year and that they are robbing the customers this year too.
Amid the soaring onion prices, the local administration recently raided Chattogram's Khatunganj market – the country's one of the largest wholesale hub.
Onion traders Monday went on a strike protesting the raid and spelled tougher movements if the administration conducted further drives in future.
The CAB said traders promptly hike the prices in local markets if international shows go up even slightly. However, when the prices fall in the international market, it is not reflected in the local markets.
The CAB claimed the traders are committing the misdeeds time and again as no stern action has been taken against them.
They demanded strengthening market monitoring and introducing onion sales by state-owned Trading Corporation of Bangladesh (TCB).
Onion prices spiked in Bangladesh recently followed by a price hike of the cooking ingredient in neighbouring India. Per kilogram of locally grown onions has climbed up to Tk65-70 while price of imported onions reached Tk50 per kg.
According to the TCB market monitoring data, prices of local onions have shot up by 73% while imported onions by 72% within a week.