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Onion prices drop with fresh imports

Published : 09 Jun 2023 10:00 PM

In a recent turn of events, the onion market has finally started to stabilize following the commencement of imported onions from India, leading to a decrease in prices. 

Over the past few months, the price of onions had been steadily rising, causing concern among consumers. 

However, with the arrival of Indian onions in the local markets, prices of locally produced onions have dropped from Tk 20 to Tk 30 per kg to the current range of Tk 60 to Tk 70 per kg. Indian onions are being sold at Tk 50, further contributing to the decline in prices. Market sellers predict that if imports continue, onion prices are likely decrease even further. The reduced prices have brought relief to buyers, who express gratitude for the downward trend. However, some buyers believe that further price reductions are necessary. They assert that the situation could have been avoided had the government initiated imports much earlier.

In addition to onions, the prices of ginger and garlic have also witnessed a decline. Ginger, which was sold at Tk 400 to Tk 450 per kg last week, is now priced at Tk 320 to Tk 350. Garlic is being sold at Tk 140 to Tk 160 per kg, marking a decrease of Tk 5 to Tk 10 from the previous week. Vendors attribute the decrease to an increase in supply within the market.

Contrary to the positive trend in the vegetable market, the price of broiler chicken has seen a sudden increase. With a hike of Tk 10 to Tk 20 per kg, broiler chicken is currently being sold at Tk 200 to Tk 210, compared to Tk 190 to Tk 200 last week. This unexpected rise in prices has caught the attention of consumers and may lead to concerns in the poultry industry.

Meanwhile, beef is being sold at Tk 750 to Tk 800 per kg, with mutton priced at Tk 1000. Sellers assert that there has been no increase in the price of cow and beef after Eid festival. 

While the spice market remains relatively stable, both buyers and sellers express apprehension that prices may increase in the days leading up to Eid. Buyers claim that shopkeepers have already begun raising the prices of spices in anticipation of the festive season. 

Sellers, on the other hand, mention that apart from cumin, other spices have not witnessed any price hikes yet. Nevertheless, they acknowledge that there may be some impact on prices before Eid.

In a positive development, the vegetable market has experienced a decrease in prices by Tk 5 to Tk 10. Notable price points include okra at Tk 40 per kg, tomatoes at Tk 80, bitter gourd at Tk 50, brinjal at Tk 60, papaya at Tk 50, green chillies at Tk 100, and cucumbers at Tk 40. Additionally, potatoes are being sold at Tk 40 per kg, yardlong beans at Tk 50, pointed gourd at Tk 40, and coriander at Tk 50.

As consumers continue to monitor the market for price fluctuations, it remains to be seen how the upcoming Eid festivities will impact the prices of various commodities.