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Shortly after India announced the suspension of exports, onion prices rose sharply, creating a volatile market. The photo was taken from the Karwan Bazar wholesale warehouse in the capital on Tuesday night. Photo: Mohammad Ibrahim
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Shortly after India announced the cessation of exports, onion prices soared, creating a volatile market. The image was taken from the Karwan Bazar wholesale warehouse in the capital on Tuesday night. Photo: Mohammad Ibrahim
Shortly after India announced the cessation of exports, onion prices rose sharply, creating a volatile market. Onion prices are now rampant in both the wholesale and retail markets. Many are now buying onions from the market and storing them, taking into account the increase in onion price at the same time last year. And there are accusations that traders are seizing every opportunity.
However, traders say the situation has arisen when India stopped onion exports to several countries around the world, including Bangladesh, under the pretext of an internal crisis and a rise in prices.
According to some onion traders in the capital, as the price of onions rose, so did the sale. The way the market caught fire when India halted onion exports last year will be the same again. They think it may take some time to put out the fire.
Visiting the capital’s Karwan Bazaar on Tuesday evening, the wholesale market was found to be more crowded than the retail market. Suddenly I saw a buyer named Firoz Shah Khokon inside the crowded market. He lifts 20 kg of local onion on the head of a beggar. Bought at 100 rupees per kg.
Feroz Shah Khokon bought the onion from wholesaler Rubel. “Sales are higher today than ever,” Rubel told NTV Online. Now people have onions at home. ‘
Visiting the capital’s Karwan Bazaar on Tuesday evening, the wholesale market was found to be more crowded than the retail market. Photo: Mohammad Ibrahim
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Visiting the capital’s Karwan Bazaar on Tuesday evening, the wholesale market was found to be more crowded than the retail market. Photo: Mohammad Ibrahim
When asked about this, buyer Feroz Shah said: ’20 kg of onion will last two and a half months. At the same time, last year when India stopped exporting onions, prices soared. For a long time I had to buy onions at a higher price. Fearing that, I bought 20 kg together. Yesterday I bought onions at 60 rupees per kg. But today I bought it in bulk at 100 rupees per kg. People, why did I buy so many onions?
A closer look revealed that a few ordinary (home) buyers were dealing with a wholesaler named Abdur Rahman (60). He’s quickly pulling the onion out of the bag. The old man sat down and said, ‘Uncle, can’t you forgive me today? It cannot be sold alone. Today is very stressful. I haven’t seen this much pressure in a long time. I’ve already sold 10 bags of onions. ‘
A buyer named Mamun bought five kg of domestic onion from Abdur Rahman’s store. “Fearing the price would go up, my wife forcibly sent me to the market to buy onions,” he said.
Mahbub Babu is a merchant who sells Indian onions. Speaking at 7pm today, he said: ‘So far I have sold 25kg and 40kg bags. I hope to sell 10 more bags overnight. But other days 10 bags are not sold. Today I have sold it for 74 rupees per kg. I bought it for 80 rupees and 30 countries.
Domestic onions have been seen to be sold at Rs 100 per kg in both wholesale and retail markets. Retailer Samad Hossain said: “Yesterday I sold it at Rs 60-75 per kg. Today 100 rupees. Prices may go higher tomorrow. The onion is on fire. This fire can burn hotter. It seems it will be too late to put out the fire.
Al Mahmud, a retailer from Shukrabad Raw Market in the capital, has come to buy onions. He bought two ounces of onions. He said: ‘The price of onion will surely increase. That’s why I came to buy. I bought some more today.
Domestic onions have been seen to be sold for Rs 100 in the wholesale and retail markets. The image was taken at the Karwan Bazar wholesale market in the capital on Tuesday night. Photo: Mohammad Ibrahim
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Domestic onions have been seen to be sold for Rs 100 in the wholesale and retail markets. The photo was taken at the Karwan Bazar wholesale market in the capital on Tuesday night. Photo: Mohammad Ibrahim
India set a minimum price of £ 650 per tonne for onion exports on September 13 last year to handle its own market. On September 30, the country banned exports. After that, the price of onion in the country market rose to Rs 300 per kg. At that time, onions were also imported by air from different countries. In March this year, India lifted the ban on onion exports.
India stopped exporting onions suddenly without warning on Monday. Onion importers from Hili land port in Dinajpur are in trouble.
As yesterday no onions were imported through this port, between 250 and 300 Indian trucks loaded with onions are stuck waiting to enter the country. Apart from this, the importers of this port are also concerned about the arrival of some 10,000 tons of onions to the country.
Healy’s C&F agent Shankar Das said the Indian government’s Foreign Trade Department had issued a notice on the matter last night. It has been said that the importation of onions to Bangladesh will stop until new orders are placed.
Shankar Das also said that recent floods in India have destroyed the onion crop. Because of this, prices have risen due to stock reduction. The government has made this decision to control prices.
Harun Ur Rashid, Chairman of Healy Land Port Import-Export Group, said: Because of this, no onion was imported yesterday through the Healy land port. Healy land port importers alone have established LC in India to import around 10,000 tonnes of onions. In contrast, 250-300 Indian trucks with onions are stuck in India. If these truckloads of onions cannot enter the country, the onions will rot and rot. We have to count the losses. We want our LC onions to be shipped to the country.
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