Domestic onion prices edge lower

Staff Correspondent | Update:

The prices of domestic onion on Thursday fell slightly on increased supply in the markets.

A kilogramme of domestic onion is being sold at less than Tk 60 in the wholesale market while the price was between Tk 70 and Tk 75 in the retail market.

On the other hand, a kilogramme of Indian onion was being sold between Tk 55 and Tk 60 in the retail market.

In the last week, the price of a kilogramme of onion was Tk 80-90.

Despite the downslide, according to the Trading Corporations of Bangladesh (TCB), the onion prices are still three times higher than that of the past year. It was Tk 20-30 this time last year, the TCB added.

“We expected the prices to go below Tk 50. But, it’s not possible as onion prices are still high in the Indian market and the supply of domestic prices is not enough,” said Narayan Chandra Saha, a businessman at a wholesale market in the old part of Dhaka city.

Amid high onion prices at home and abroad, Indian media outlet The Business Standard came up with a positive news on Thursday.

It said the curve of the onion prices in the Indian market would come down in no time.

   
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