The price of onion has increased in retail and wholesale markets in Jessore as no onion entered through Benapole port for the last three days following the imposing of a 40% export duty by India.
The price of the onion has increased by Tk20 to Tk30 per kg since Tuesday morning in markets of Jessore’s Benapole, Sharsha, Navaron and Baganchra.
Now onions are being sold at Tk70 to Tk80 per kg. Buyers are frustrated by the increased price.
Retail traders said that the price will increase further. They demanded quick steps to control the market.
Traders said that soon after the announcement of the increase in duty, it has had an impact on the import market.
The annual demand for onion in Bangladesh is about 2.6 million tons. Of this, 700,000 to 800,000 tons are imported from India, they said.
Sabur Hossain, a wholesale trader at Benapole market, said that there is no import but demand is high. So the price is increasing.
Onions are not available even at higher prices. Due to the imposition of the 40% duty, many importers are not showing any interest in importing onions. Due to this, the market is gradually becoming unstable. Unless enough onions are imported, prices are unlikely to come down, he added.
Mahmudul Hasan, who came to Benapole market to buy onions, said that the price has increased by Tk20 to Tk30 per kg for the last three days.
“Last week I bought onions at Tk40-45 per kg. Today (Tuesday), the price is Tk70-80.”
Alamgir Hossain, an onion buyer in Navaron market, said that the prices of daily essentials are increasing in the kitchen market every day. Now there is no way to buy onions.
“The price increased by Tk20 to Tk30 per kg in three days,” he said.
Ataur Rahman, a retail onion seller in Laxmanpur market of Sharsha upazila, said that two weeks ago he bought wholesale onions at the rate of Tk40-42 per kg. At that time he sold them at Tk45-50 per kg. In a span of three days, wholesale prices have increased from Tk65 to Tk75. Now, they are selling at Tk70-80 per kg.
Abdul Jalil, director of Benapole port, said that although 15-20 truckloads of onions were imported daily through this land port, no onions were imported from India in the last three days.
Hemant Kumar Sarkar, an official at the Department of Agricultural Extension (DAE), said that the Ministry of Agriculture has given permission to import about 1.3 million tons of onions this year.
“But against this, about 350,000 tons of onions have been imported. No onions were imported through Benapole from Saturday to Tuesday evening. Last Thursday, 46 tons of onions were imported.”
On August 19, the Indian government imposed with immediate effect a 40% export duty on onions up to December 31 in an attempt to dampen their local prices.
