Onion prices keep rising as most vegetables get dearer

Onion, a kitchen essential, witnessed further price hike at retail outlets across the country over the last seven days. Adding to the trouble of consumers, prices of vegetables are still fluctuating in the kitchen markets. Other key kitchen commodities, including soybean oil, fish, flour, garlic, and sugar,  also witnessed a price hike at retail outlets last week. Since mid-September, the price of onions began to go up steadily, soaring to Tk. 270–280 in mid-November.

Yesterday, prices of onions of different varieties at various kitchen markets in the capital were between Tk. 130 and Tk. 230. The local varieties were selling for Tk. 220–230 a kg, imported ones for Tk. 160–180, and the mixed variety for Tk. 130–140. Rice prices almost remained static, maintaining its previous high, as coarse and medium varieties sold for Tk. 40–50 a kg and the finer variety for Tk. 53–72.

Sellers, however, said onion prices would remain the same until further supply from imports and local varieties. But there is speculation that some traders are manipulating the market by stocking the item.

Talking to The Independent, consumers said that onion prices had been increasing almost daily and the extra financial burden was being passed on to them. Nobody knew when the price rise would stop. Onions are now costlier than apples and eggs.

The government has strengthened its price monitoring in the markets and taken measures to import the vegetable from countries other than India.

Both the government and general people, as well as onion vendors, said that though there were enough onion stocks in the wholesale markets, a section of unscrupulous importers were taking advantage of the situation by citing a supply shortage.

Commerce minister Tipu Munshi said the

onion price would stabilise within the first week of December when imported and local onions hit the market. “Some 12,000 tonnes of imported onions will reach the Chattogram port on November 29,” he added.

Stocks of Indian onions have been exhausted following India’s total ban on onion exports since September 29.

Meanwhile, new harvest onions brought some stability to the market as that variety was being sold for Tk. 140 a kg.

Garlic prices increased to Tk. 160–200 a kg from Tk. 140–160 a week back. Ginger prices, however, fell by Tk. 10 a kg, but they still remain as high as Tk. 140–220 a kg depending on quality.

The Trading Corporation of Bangladesh (TCB) recorded a 55.56 per cent hike in onion prices, on average, last month, while was 29 per cent, on average, last week. The price of onions witnessed a 536.36 per cent year-on-year rise, TCB data says.

According to TCB data, the price of local onions increased by 546.15 per cent, while that of the imported ones by 540 per cent in November this year compared to the corresponding period last year.

The price hike was much higher than the TCB had estimated. However, The TCB has continued selling local onions at Tk. 45 per kg from 35 locations in the city.

Visiting different kitchen markets, including Mirpur-2, this correspondent found that cauliflower and cabbage were selling for Tk. 30–40 apiece; carrot, country beans, and new potatoes for Tk. 60–70 a kg; and radish and papaya for Tk. 30–45 a kg.

Bitter gourd, pointed gourd, snake gourd, and stored potato prices witnessed a Tk. 4–10 hike per kg. Bitter gourds sold for Tk. 70–90 a kg and stored potatoes for Tk. 30–32. Tomato and cucumber remained static at Tk. 90–130 a kg based on quality.

Prices of flour increased by Tk 3–4 a kg in a week. Even sugar prices rose by Tk 4-5 a kg in seven days.

River fish like hilsa, rui, katla, shoul, kalbaus, and shrimp saw a hike of Tk. 50–150 a kg in a week. A piece of hilsa sold for Tk. 650–1,150 a kg based on size. Its price rose by Tk. 150 within a week. Prices of broiler chicken witnessed a slight low in the capital’s kitchen markets. Broiler chicken was being sold for Tk. 115–120 kg, while the price of red roosters stood at Tk. 220–230 per kg.

Farm egg prices, however, showed a downtrend on Thursday, selling at Tk. 100-108 a dozen from Tk. 104-114 a week back.

IK

 

 

Onion prices keep rising as most vegetables get dearer

Onion, a kitchen essential, witnessed further price hike at retail outlets across the country over the last seven days. Adding to the trouble of consumers, prices of vegetables are still fluctuating in the kitchen markets. Other key kitchen commodities, including soybean oil, fish, flour, garlic, and sugar, also witnessed a price hike at retail outlets last week. Since mid-September, the price of onions began to go up steadily, soaring to Tk. 270280 in mid-November. Yesterday, prices of onions of different varieties at various kitchen markets in the capital were between Tk. 130 and Tk. 230. The local varieties were selling for Tk. 220230 a kg, imported ones for Tk. 160180, and the mixed variety for Tk. 130140. Rice prices almost remained static, maintaining its previous high, as coarse and medium varieties sold for Tk. 4050 a kg and the finer variety for Tk. 5372. Sellers, however, said onion prices would remain the same until further supply from imports and local varieties. But there is speculation that some traders are manipulating the market by stocking the item. Talking to The Independent, consumers said that onion prices had been increasing almost daily and the extra financial burden was being passed on to them. Nobody knew when the price rise would stop. Onions are now costlier than apples and eggs. The government has strengthened its price monitoring in the markets and taken measures to import the vegetable from countries other than India. Both the government and general people, as well as onion vendors, said that though there were enough onion stocks in the wholesale markets, a section of unscrupulous importers were taking advantage of the situation by citing a supply shortage. Commerce minister Tipu Munshi said the onion price would stabilise within the first week of December when imported and local onions hit the market. Some 12,000 tonnes of imported onions will reach the Chattogram port on November 29, he added. Stocks of Indian onions have been exhausted following Indias total ban on onion exports since September 29. Meanwhile, new harvest onions brought some stability to the market as that variety was being sold for Tk. 140 a kg. Garlic prices increased to Tk. 160200 a kg from Tk. 140160 a week back. Ginger prices, however, fell by Tk. 10 a kg, but they still remain as high as Tk. 140220 a kg depending on quality. The Trading Corporation of Bangladesh (TCB) recorded a 55.56 per cent hike in onion prices, on average, last month, while was 29 per cent, on average, last week. The price of onions witnessed a 536.36 per cent year-on-year rise, TCB data says. According to TCB data, the price of local onions increased by 546.15 per cent, while that of the imported ones by 540 per cent in November this year compared to the corresponding period last year. The price hike was much higher than the TCB had estimated. However, The TCB has continued selling local onions at Tk. 45 per kg from 35 locations in the city. Visiting different kitchen markets, including Mirpur-2, this correspondent found that cauliflower and cabbage were selling for Tk. 3040 apiece; carrot, country beans, and new potatoes for Tk. 6070 a kg; and radish and papaya for Tk. 3045 a kg. Bitter gourd, pointed gourd, snake gourd, and stored potato prices witnessed a Tk. 410 hike per kg. Bitter gourds sold for Tk. 7090 a kg and stored potatoes for Tk. 3032. Tomato and cucumber remained static at Tk. 90130 a kg based on quality. Prices of flour increased by Tk 34 a kg in a week. Even sugar prices rose by Tk 4-5 a kg in seven days. River fish like hilsa, rui, katla, shoul, kalbaus, and shrimp saw a hike of Tk. 50150 a kg in a week. A piece of hilsa sold for Tk. 6501,150 a kg based on size. Its price rose by Tk. 150 within a week. Prices of broiler chicken witnessed a slight low in the capitals kitchen markets. Broiler chicken was being sold for Tk. 115120 kg, while the price of red roosters stood at Tk. 220230 per kg. Farm egg prices, however, showed a downtrend on Thursday, selling at Tk. 100-108 a dozen from Tk. 104-114 a week back. IK