Onion price decreases by Tk30 per kg due to increase in supply

Onion prices fell by Tk 30 per kg on Tuesday (March 19) due to increased supply of newly produced onions to Dhaka from Pabna and Faridpur regions, the production hub of onion in the country.

Talking to the wholesalers and retailers of Malibagh, Moghbazar, Karwan Bazar and Shyambazar in the capital, it is known that the supply of onion has increased due to the start of onion season.

As a result, prices have come down in the wholesale market to Tk 45-55 per kg. In the retail market, onions are selling for Tk 60-70 per kg, and in some cases, it is selling at Tk 55 per kg.

Only a week ago, onions were sold at Tk 90-100 per kg in the retail market of Dhaka.

Onion traders of Karwan Bazar said after receiving the news of the arrival of imported onions from India, the farmers quickly picked up the onions and started selling in the market. As a result, the supply in the market increased and the price of onion decreased.

According to the importers and onion traders in the capital's Shyambazar, newly harvested onions have arrived in the market on time, creating an impact on its price in both wholesale and retail levels. To ensure fair prices for the farmers, there is now no need to import onions.

They also said that there is a need to emphasize now on proper harvesting of onions and careful storage targeting future market needs.

If the onion is stored properly, the price will remain normal during the rest of the year, they opined.