Onion prices rising, coarse rice and egg prices drop

Asifur Rahman, an employee of a private firm living in Kalyanpur, Dhaka, bought four kilogrammes (kg) of onions at Tk 90 per kg from a local market 15 days ago. When he went to buy onions again Thursday morning, he found the price had jumped to Tk 120 per kg.

“In just a few days the price has gone up this much. I checked five shops, nowhere is good-quality onion selling for less than Tk 120,” Asifur said.

Over a two-week period, onion prices have risen by Tk 30 per kg, now selling for Tk 100-120 in various retail markets across the capital. Along with onions, potato prices have also increased by Tk 3-5 per kg, now selling at Tk 25 per kg.

Wholesale and retail traders in different markets across Dhaka say that the stock of locally grown onions is nearly depleted, resulting in reduced supply. Meanwhile, imported onions, usually sourced from India and other countries, are currently unavailable.

This supply shortage has pushed prices up. Traders also note that onion prices typically rise at this time every year due to reduced supply.

At present, smaller-sized onions from Manikganj and Faridpur are selling at Tk 100-110 per kg in retail markets, while higher-quality onions from Pabna are being sold at Tk 120 per kg.

Two weeks ago, onions produced in Manikganj and Faridpur were selling for Tk 70-80 per kg and the ones grown in Pabna were Tk 90 per kg.

These prices were confirmed by speaking to sellers during visits to Mohammadpur Krishi Market, Town Hall Market, Agargaon Taltola Market and Karwan Bazar in the capital on Thursday.

Traders say onion imports have been minimal this year, making the market heavily dependent on local produce. Until October, supplies of home-grown onions were steady. But from early November, supply began to tighten, leading to a sharp price increase.

Early verities of new-season onions, known locally as ‘murikata’, usually enter the market in December. Until then, especially throughout October and November, prices remain high. Last year, too, onion prices were high during this period.

According to data from the Trading Corporation of Bangladesh (TCB), a kg of onion was being sold for Tk 130-150 in mid-November last year.

Retailers expect prices to fall once early verities of onions arrive in December. Until then, especially in November, the upward trend of onion price is likely to continue.

Abdul Majed, a wholesale onion trader and importer at Shyambazar market, said, “At the moment, there is no permission for onion imports, and local supply is insufficient. To stabilise the market, imports must be allowed quickly. We have applied to the government for import permission, but have not received it yet.”

Prices of farm eggs and coarse rice have eased slightly in the market. On Thursday, a dozen eggs sold for Tk 120-130, compared to Tk 130-140 a week earlier. Broiler chickens were selling at Tk 170-180 per kg and Sonali chickens at Tk 270-300 per kg.

Traders say prices have fallen because coarse varieties such as Swarna and Paijam rice are being imported from India. Imported Swarna rice is now selling at Tk 50 per kg.

A week ago, local Swarna rice was selling for Tk 55 per kg. Meanwhile, Pajam rice prices have fallen by Tk 5 per kg, now selling at Tk 55. However, the price of Miniket rice remains unchanged.

On the other hand, the supply of various winter vegetables has increased in the market, pushing overall vegetable prices down.

Among the seasonal vegetables cauliflower and cabbage are currently selling for Tk 40-60 apiece, bottle gourd for Tk 60-80 apiece, tomatoes for Tk 120-140 per kg, radish for Tk 50, eggplant for Tk 80-120, and bitter gourd for Tk 70-80 per kg.

Visiting several markets Thursday, fewer customers were found shopping due to back-to-back political programmes in the capital. From 11:00 am to 12:30 pm, both Mohammadpur Krishi Market and Town Hall Market had noticeably fewer shoppers.

Vegetable seller Abbas Akand said the number of customers at his shop was about half of what he sees on other weekdays. Humayun Kabir, a grocery seller at Town Hall Market, said the same.

Md Parvez, a meat seller at Mohammadpur Krishi Market, said, “Only customers from nearby areas are coming to shop. Very few have come today (Thursday) from farther away. As a result, our sales are also lower than usual.”