Manipulation of unscrupulous traders has triggered the rise in the market price of onions in the last ten days as onion prices shot up again across the country despite adequate stocks in warehouses.
Customers alleged that unscrupulous syndicate is out to manipulate the price of onionsagain on the pretext of shortage of the essential product.
Retailers claimed that wholesale prices have skyrocketed over the past two weeks. Retail onion trader Motin Mia at KarwanBazar said, “If we buy from a wholesaler at a higher price, we have to sell it at a higher price. So retailers have no hand in raising prices.”
Another onion traderMd Mahmud Alimechoed similar adding that, “A few onion trucks have been coming in Karwanbazar since last week. Retailers are also not getting onions from wholesalers as per the demand. Storekeepers say this is due to declining supply of domestic onions.”
In the meantime, Trading Corporation of Bangladesh (TCB) said fair price onion will be available next week.
Onion prices have jumpedunusuallyfor the last two weeks. According to the government's marketing regulatingagency TCB, prices of domestic onions rose by 67 percent and imported onions by 83 percent during the period.
As a result, terrifiedby the price, consumers have started buying onions in fear of hike. And realizing the opportunity, traders are also increasing prices every day.
In this situation, mobile court activities have already started across the country to control the price of the product. In next week, the Ministry of Commerce has convened a meeting to decide what to do.
About a month ago, the price of domestic onion was around Tk40 per kg in the country's market, and the price of Indian onion was Tk25 to 30 per kg.
Secretary of Commerce Dr. Md. ZafarUddin told to the media, ‘There is no crisis of onion in the market. On Sunday we had a meeting at the ministry on the price of onion. The campaign will be continuedthroughoutthe country. Earlier also there was campaign, but now it has been strengthened.”
“Onion will be sold in the market through TCB from next week. I hope it will be possible to control the price of the product with the help of everyone,” he added.
Regardingavailability of onion on the market and its price, he mentioned that the price of this onion will be between Tk 30-35. TCB will remain in the field till the new onion arrives.
Abdul JabbarMandal, Director of the National Consumer Rights Protection Directorate, told The Bangladesh Post, that “Market monitoring activities have been going on in different parts of the country, including the capital.”
Strict monitoring is being carried out to bring the prices of onions under control. These supervision activities will be continued, he noted.
