Onion prices drop in Hili land port

Onion prices in Hili land port wholesale markets, have started coming down. 

The prices have come down by Tk20-30 in the last two days.

Currently, onion is being sold at Tk60-70 per kg which cost Tk80-110 on Thursday.

Delwar Hossain, a wholesaler of Hili Bazar, said onion prices went out of control since September 29 last year when India banned its export. Last month, onions of different varieties were sold between Tk70-120 per kg.

The prices started falling on Wednesday soon after the Indian media reported about the government's decision to withdraw its ban.

On Friday, some varieties were being sold at Tk70, down from Tk90-100 several days ago. Onion imported from Myanmar is costing Tk60 per kg, traders said.

Two traders said onion was sold at Tk80 per kg several days ago but now it is being sold at Tk60 per kg. Sanwar Hossain, a buyer, said the news was a relief.

A February 26 inter-ministry meeting led by Indian Home Minister Amit Shah decided to lift the export ban to ensure local farmers get proper prices for their crop.

Mobarak Hossain, an onion importer of Hili Land Port, said they are yet to receive any letter from the exporters. "We expect India to start onion export soon," he added.  

India's ban sent onion prices soaring by 557.8 percent in Bangladesh in just two months after the embargo. Each kg of the bulb cost about Tk30 before the ban.