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35 per kg has increased in a week ** Imports many times more than production in 10 years ** TCB will be sold at lower prices starting tomorrow
Onion buyers have yet to dry last year’s scars. Meanwhile, the price of onion has risen again in the market. The price of onion has risen from Rs 30 to Rs 35 per kg in one week. Low-income people are suffering due to high prices for vegetables, high prices for green chili peppers, and high prices for onions.
But why is the price of onion suddenly rising? This question now is the buyers. Traders say the new onion plantations in Bangalore have been completely destroyed due to flooding and heavy rains in India. The onion that is imported from India at this time of year is this new onion from Bangalore. The price is lower since it is a new onion. This onion is also available in the country’s market at a lower price. But as the onion cultivation in Bangalore has gone bankrupt, old onions are now being imported from other parts of India. And the price of old onion is higher. All of this has had a negative impact on the country’s onion market.
However, stakeholders said, we have become dependent on onion imports. And a class of rogue entrepreneurs is taking advantage of this. Because there are still enough stocks of onions produced in the country. If the cultivation of a region of India is ruined, why will the price of onions increase by Rs 30/35 per kg so fast? It’s just manipulation! Concerned people said authorities learned no lessons from the problems that arose in the country when India halted onion exports last year.
On Friday, imported onions were sold at 50 to 55 Tk per kg and domestic onions at 60 to 65 Tk per kg on the capital market. A week ago it was 25 to 30 rupees and 35 to 40 rupees respectively.
Imports have increased more than production
According to sources from the Ministry of Commerce, the demand for onions in the country is 24 to 25 lakh tonnes per year. And a large part of this demand is covered by imports. Because, although onion production has increased in recent years, imports have increased more than that. According to the Bureau of Statistics, onion production has been stable at 16-18 lakh metric tons over the past five years. But the amount of imports has increased a lot during this time.
In the 2008-09 financial year, the country produced 6.35 lakh of metric tons of onion. In the span of 10 years, production increased to 16.36 lakh tonnes in financial year 2016-17. As a result, production has increased 136 percent or 2.38 times in 10 years. At this time, the yield per hectare has increased from 7.61 tons to 9.6 tons. This yield has increased mainly due to the use of new varieties and advanced production technology. But that is not enough compared to the demand. As a result, onion imports have increased in line with demand.
Although 1,346 lakh tonnes of onions were imported in 2008-09, the volume of imports stood at 10,643 lakh tonnes in fiscal year 2017-18. As a result, production has multiplied by 2.38 and imports have multiplied by 7.9 in 10 years. And due to increased dependence on imports, if there is a shortage of imports for any reason, the onion market in the country becomes unstable. Associated with this is the manipulation of a rogue merchant class. When India stopped exporting onions last year, the price of onions in the country topped Rs 300 per kg. Stakeholders have said that to overcome this problem with onions, dependence on imports must be reduced. Onion production should be increased.
Onion importer Mubarak Hossain told Ittefaq that the onion price has risen in the country due to the import of onions from India at higher prices. He said that the new onions that were imported from Bangalore, India in the first week of September each year, this time due to heavy rains and floods have caused problems in planting the onions. As a result, it has affected the country’s market.
Trade Minister Tipu Munshi told reporters at the Secretariat last Thursday: “The price of onions has gone up a bit. Not only in the country, but also in India. To keep the market stable, this time the maximum amount of onion will be imported. Tenders have already been published to import onions from Turkey through TCB. The Secretary of Commerce also spoke with the Ambassador of Myanmar. We want to open all the avenues for the importation of onions. This year, our shortage of five to five and a half lakh tonnes of onions will be covered by imports. Several monitoring teams are working to see if there is any manipulation of the onions.
Meanwhile, the government marketing agency Trading Corporation of Bangladesh (TCB) will start selling onions at lower prices from Sunday to keep the onion market stable.
Vegetables with prices still high
Almost all types of vegetables are still sold at high prices. Among the different types of vegetables on the market yesterday, karla Rs 60 to Rs 70, Eggplant, Barbati Rs 70 to Rs 80, Patol, Kankrol Rs 50 to Rs 60, Beans Rs 150 to 180, Potatoes Rs 40, Tomatoes Rs 100 to 120, Carrots 60 to 100 rupees, Green chili peppers sell for 180 to 200 rupees per kg. In addition, cauliflower and small-sized cabbage are sold for Rs 40 each. The pumpkins are sold for Rs 60-70 each.
Helal, a vegetable vendor in Kawran Bazar, said that the floods had caused extensive damage to the vegetable farms. This has reduced the supply of vegetables on the market. That is why the price is high. He said prices are unlikely to drop until next winter’s vegetables hit the market. Meanwhile, the price of small lentils has risen on the market. It is sold between Rs 110-120 per kg with an increase of Rs 5 per kg. Also, the price of imported ginger has fallen, but the price of domestic ginger has risen. In yesterday’s market, the price of domestic ginger increased by Tk 20 and it was sold at Tk 140 to 160 per kg. And imported ginger sells for between Rs 200-240. The price of broiler chicken has also risen. It is sold between 120 and 125 rupees per kg with an increase of five rupees.
Ittefaq / KK
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