[ad_1]
Even five days ago, onions imported from China, Turkey, Ukraine, the Netherlands and Egypt were selling for between Rs 35-45 in Khatunganj. But with the news of the Indian onion market entry, the prices of those onions have dropped by less than half. Traders say that if Indian onion imports don’t stop now, importers who are on the sidelines during the crisis will be on their way.
On Monday (January 4), the country’s largest consumer goods market, Khatunganj in Chittagong, was visited by thousands of bags of imported onions from China, Turkey, Ukraine, the Netherlands, and Egypt. Most of the stockists are trying to sell onions imported from other countries despite incurring losses after receiving news that Indian onions have entered the market. But retailers aren’t showing much interest in the hope that onion prices will continue to decline.
Indian onions are landing at Khatunganj in the port city of Chittagong
Traders said Indian onions were selling for Tk 52-55 in Khatunganj on Monday. On the other hand, domestic onions are sold at Rs 30-35 / kg, Turkish onions at Rs 20 / kg, and Dutch and Chinese onions at Rs 14-15 / kg. The biggest losers are the onion importers of China, Turkey, the Netherlands and Egypt.
Originally a month ago a large quantity of onions were imported from these countries between 40 and 45 rupees. But for two weeks the price was reduced to 25 rupees. But on Sunday (January 3), the news of the onion import through the Bhomra land port of Satkhira reached Khatunganj and the price of onions from China, Turkey, Ukraine, Holland and Egypt fell to Tk 14; The national onion price has dropped from Rs 30 to Rs 35.
Hundreds of tons of onions are stored in the warehouse compared to demand.
Mohammad Jago, manager of Messrs. Golam Brothers in Khatunganj told News: “Not that too many Indian onions have entered the market; However, this news has created instability in the market. Now most of the wholesalers sell onions at lower prices for fear of a further drop in prices. Retailers also don’t go to market in hopes of getting fewer onions. If it continues like this, most of the strange onions will rot in the garden.
He said: “With the news of the Indian onion coming to the market, the general public thinks that the price of the onion will go down; In fact, it is happening. Traders are selling onions at low prices out of fear.
Myanmar onions did not sell due to falling prices, they are rotting in front of the warehouse
When visiting Chowdhury Traders in Khatunganj, several sacks of rotten onions can be seen in front of the store. Akbar Chowdhury, the owner of the company, said the onions were imported from Myanmar. But at present, onions from Myanmar cannot be sold because there are stocks of onions on the market in about five countries. Now, if Indian onions come, the rest cannot be sold.
Akbar Chowdhury told Jago News: “We have drowned, farmers will also die; Those who have grown indigenous onions. I am importing onions from Turkey, Ukraine and the Netherlands at Rs 43-44 and now I sell them at Rs 14-15. Importers can get Rs 30,000 in lakhs, the remaining Rs 70,000 will not be there.
There was not much sale of Indian onions in the market. In the last three days, only 20 trucks entered the Indian onion market; That went immediately to the retail market. But the news of the entry of the Indian onion has destabilized the entire market.
Indian onion imports resumed last Saturday after a three-month hiatus. In the last two days, about 600 metric tons of onion entered the country’s market in 31 trucks.
Onions sold at Tk 45 to Tk 14 have seen a slight increase in sales in the Khatunganj yard
Mostafa Mia, owner of Mitali Traders, told Jago News: “If the Indian onions had not arrived at this time, those who imported onions from different countries would have made some profit. Now they are selling at a loss. Before he bought onions for Rs 45-50 and now he sells them for Rs 15-20. The price of the national onion was more than 50 rupees; They are now priced at Rs 35.
Mohammad Idris, general secretary of the Hamidullah Mia Bazar Entrepreneurs Association in Khatunganj, told Jago News: “About 50 metric tons of Indian onions arrived in Khatunganj on Sunday. In addition, a large amount of onion imported from different countries is stored in merchants’ warehouses.
He said: ‘A lot of onions imported from different countries, including Egypt, Turkey and Myanmar, are still waiting to be unloaded at Chittagong port. In this situation, hundreds of more tonnes of onions will be stored in warehouses than demand, as Indian onions continue to arrive through the land port. As a result, the price of onion has dropped dramatically, in which case there will be a risk of large losses due to spoilage of the onion.
Indian onion in the open market
Incidentally, India stopped exporting onions to Bangladesh on September 14 under the pretext of the onion crisis and rising prices in the domestic market. As a result, 250 onion trucks got stuck inside India waiting to enter the country. About 10,000 tons of LCed onions are open for import.
Five days later, on September 19, with prior authorization, India exported 246 tonnes of onions in 11 previously tendered trucks. As a result, the price of onion increased in the country’s market. To handle the situation, importers import large quantities of onions from Myanmar, Pakistan, Egypt, Turkey, the Netherlands, Ukraine and China.
Abu Azad / ARA / HA / MKH
The corona virus has changed our lives. Time passes in joy-pain, crisis, anxiety. How are you spending your time? You can write in Jago News. Ship Today – [email protected]
[ad_2]
