In Bangladesh, onion prices have escalated beyond Tk 100 per kilogram due to a reported scarcity of local varieties and a reduction in imports from India. Retail prices at various kitchen markets in Dhaka ranged between Tk 100 and 110. Concurrently, other essential commodities have also seen a price increase, with green chillies exceeding Tk 250 per kg and broiler chicken eggs priced between Tk 150-160 per dozen. The inflation rate has consistently stayed above 9 percent over the last 14 years, primarily driven by the rising cost of daily necessities. The Bangladesh Bureau of Statistics (BBS) reported a 9.89 percent overall inflation rate in May, with food inflation reaching 10.76 percent.
Market visits in Dhaka revealed a notable increase in local onion prices over the last two weeks. Retailers indicated starting the season with elevated prices, with new harvest onions initially priced at Tk 80-100 per kg, reaching up to Tk 120 in March, and currently fluctuating between Tk 100 to 110. The discontinuation of imports from India for four to five months has shifted consumer demand towards local onions. Despite the resumption of exports, India has imposed a 40 percent duty on onion exports, further inflating import costs. Consequently, imported onions are now more expensive than local varieties.
The Department of Agriculture Marketing noted that onion prices have remained unusually high this year, diverging from the typical peak season prices below Tk 40 per kg. The Trading Corporation of Bangladesh (TCB) observed prices ranging from Tk 45-60 per kg during the peak season in April, highlighting a significant deviation from past trends.
[ Tk 100 = €0.80 ]
Source: en.prothomalo.com