Onion prices skyrocketing; Tk 250 per kg

Prices of essential cooking ingredient onion skyrocketed to hit Tk 250 per kilogram on the last day of week on Friday, leaving consumers and retail sellers astonished. 

Prices of onion is unusual since India halted exporting onion in Bangladesh since September 29, and people are witnessing newer records of price hike of the ingridient everyday.

In a week, prices of onion rose Tk 100 in three phases that now reached Tk 250. In last three days, prices rose to Tk 80.

This reporter went to the country's largest wholesale market Shyambazar this morning and saw sellers were selling onion came from Egypt at Tk 210-220 per Kg while local onion was being sold at Tk 220-230.

Some sellers at the market were seen selling onion at Tk 240 per kg and onion imported from Egypt at Tk 220.

At different markets of city's Rampura, local onion was being sold at Tk 230-250 per kg.

Regarding onion prices, trader Milon said prices of onion is soraring everyday, so they have nothing to do. 

"We have bought onion from Shyambazar at Tk 160 per kg on Wednesday and had to purchase the same at Tk 200 yesterday but today its price Tk 230 at Shyambazar that led us to sell in higher prices," he added. 

The trader alleged that prices of the key cooking ingredient rose because of Shyambazar traders, and words of ministers played role to increase of onion prices.

Price hike was also seen in Shantinagar, New Market and different markets of the city. 

After India shut export of onion, prices of local onion hit Tk 100. After some days, the prices came down to Tk 70-80 per kg.

But showing excuse of massive loss due to cyclone 'Bulbul', and imported onion was not coming, traders hiked price again and that reached at Tk 100 per kg.

Then, Commerce Minister Tipu Munshi in a speech said it is not possible onion prices will come down bellow Tk 100 that instigated the prices hike, consumers alleged. 

Amid this, industry ministry at the parliament said onion prices are normal. After a day, prices of the ingredient reached Tk 150 per kg.