|
The pungency of onion has intensified with the price escalation of this perishable item in the local markets following its price hike in neighbouring India recently, where it has inched up Rs 10 per kilogramme.
Onion is also being sold by the Trading Corporation of Bangladesh (TCB) and its appointed dealers through open market sales (OMS) to rein in its prices. But the initiatives have already proved to have fallen awfully short of requirement and failed to create any visible impact in the local markets.
Onion was selling between Tk 42 and Tk 45 per kg Tuesday against its previous rates between Tk 30 and Tk 32 per kg only a week ago in the local markets, traders said.
Traders of the Shyambazar said they cannot import of the item from India as the price of onion also escalated there following a production shortfall in Maharashtra, Madhya Pradesh, Rajasthan and Gujarat.
On the other hand, some traders complained that a section of unscrupulous traders have been hoarding the items to make some quick cash ahead of the Eid.
Sources said more than 80 per cent of country's annual onion demand of nearly 1.0 million tonnes is being met through import from India.
Besides, a nominal amount of onion of different varieties is being imported from Myanmar to meet the growing demand of the item in the local markets, traders said.
Bangladesh imports onions worth US $ 77 million annually, commerce ministry sources confirmed.
On the other hand, agri-experts said the cultivation of onion will be delayed in Bangladesh this year on account of the unexpected torrential rainfalls across the country recently.
They said onion prices also escalated in the local markets partly due to the reserve stocks made by the farmers for cultivation purposes and hoarding by the panicked consumers during the Ramadan and also ahead of the Eid.
|