The price of local variety of onions witnessed a sharp rise on the kitchen markets in the capital Dhaka in the last two days and it reached Tk 60 a kilogram on Wednesday.
Traders said that the price of onions increased by 15-20 a kg in the city in the last two days as the supply of local variety of the item decreased on the market.
They said that the price of onions continued to rise in the city markets for the last two weeks as the supply of both the local and the imported items decreased on the market due to the holidays for Eid-ul-Fitr.
Traders said that the supply of local variety still remained slow after the Eid holidays while the import of onions from India remained halted for a couple of months.
One of the wholesalers at Shyambazar in the city claimed that affluent farmers were not releasing their stock of onions to the markets that created a supply shortage.
The price of onions increased by Tk 15-20 a kg in last two days. The local variety sold for Tk 55-60 a kg and the imported variety for Tk 50-60 a kg in the capital on Wednesday.
The price of local variety of onion was Tk 45 a kg on Friday while the price of imported variety was Tk 35-40 a kg.
According to the Trading Corporation of Bangladesh data released on Wednesday, the price of onions increased by up to 37.50 per cent in one week in the city markets.
Narayan Chandra Saha, proprietor of Nabin Traders at Shyambazar, said that the price of onions decreased on the wholesale market on Wednesday and hopefully the price would decrease more in two or three days.
He said that the wholesale price of onions increased to Tk 50 a kg on Tuesday but the price came down to Tk 43-45 a kg on Wednesday.
He said that a huge quantity of onions remained stock in the farmers’ level across the country.
Want stories like this in your inbox?
Sign up to exclusive daily email
More Stories from Commodities