Price of imported onions rose by more than 70% in one month

The price of imported onions has increased by 70.59% in a month and is currently being sold at Tk70-75 per kilogramme, according to the Trading Corporation of Bangladesh (TCB).

A month ago, the price of imported onion was Tk40-45 per kg. Onion prices have been increasing for several weeks.

On 19 August India imposed a 40% export duty on onions to increase the supply of onions in the domestic market and control price hikes.

Since then, the cost of imported onions in Bangladesh has surged, soaring to a staggering 70%, says TCB data up until 24 August. Due to the increase in the price of imported onion, the price of domestic onion has also increased. 

Abdul Majed, a wholesale onion trader of Shyambazar in the capital, told The Business Standard (TBS) on Friday (25 August), "Onions are being sold at Tk57-58 per kg depending on the quality; local onion is Tk70-72/kg. Local garlic is being sold for Tk200-210 per kg. Imported Chinese garlic is being sold at Tk95-210 per kg."

Meanwhile, the government has decided to allow the import of onions from China, Egypt, Pakistan, Qatar, Turkey, Myanmar, Thailand, the Netherlands and the United Arab Emirates to control the price hike.

Meanwhile, the price of imported garlic has increased by 9.52% in one month - presently being sold at Tk220-240 per kg, increasing from Tk200-220. A year ago, the price of imported garlic was Tk110-130 per kg.

The price of local garlic has increased by 15% in a month. From Tk180-220 per kg a month ago, it is now being sold at Tk220-240. A year ago, the price of local garlic was Tk60-80 per kg.