Onion prices soar: CAB alleges traders creating artificial crisis

Sr. Staff Reporter, Kishoreganj :

The price of onion has been increasing for a month . The price of the spice has now crossed 150 taka as the demand increases. In the last one week, the price per kg has increased by 25 to 35 taka. Not only this time, the price of onion increases every year in November- December in the country.
The Trade and Tariff Commission has conducted a review to find out why onion prices increase in the last two months of the year. Tariff Commission has revealed that onion prices increase for four reasons during this time. These reasons are the violence of middlemen at every stage from production to consumer; lack of onion storage; and damage to onions during the last stages of the season and due to rain.
Onion traders said that the new advance onions have not yet started arriving in the market in full. That is why the supply of onions in the market is not as before. Due to these reasons, the price of the product is increasing. However, the news of relief amidst this increase is that the government has allowed the import of onions in a limited scale.
In addition, there is hope in the market for advance variety of cut onions in Kishoreganj kitchen market.
Due to this, the price of other onions has also decreased by at least 10 taka than before. Today (Thursday) , cut onions wholesale sold at a price of tk.110, retail leaves tk. 120-130.
Md.Sairz Wasi, a wholesaler in Kishoreganj ‘s Bara Bazar told the New Nation that, “Onion prices increased excessively last week due to low supply. However, the arrival of cut onions in the market at the beginning of this week has started to have an impact. Prices have decreased compared to before. Onion prices will normalize in a few days after imports start.”
Prices are increasing for 4 reasons: A Tariff Commission investigation has revealed that onion prices have increased at this time of year due to lack of storage, violence by middlemen, damage to onions due to rain, and the end of the season.Onion storage season is usually from January to April. Farmers store onions on their own initiative. The Tariff Commission has identified that the price of onions increases due to the lack of government storage.
Onions change hands multiple times from the farmer to the market. Middlemen make a profit at every stage. The price of onions also increases due to the excessive profits of middlemen.
Consumers Association of Bangladesh (CAB), Kishoreganj ‘s President Alam Sarowar Tito has alleged that traders have increased prices by creating an artificial crisis. Traders have created an artificial crisis to make an excuse to import onions from India. Because if they can now import onions from India, they will be able to make several times more profit.”