Onion prices have started increasing rapidly at the kitchen markets in Dhaka as well as other parts of the country just a day after neighbouring India declared to suspend onion export.
A wholesaler of Karwan Bazar, Md Ashraful said, "Local onions were being sold at Tk 50 on Monday morning. At night, they were being sold for Tk 80. Now the selling price is Tk 85-90."
In the Karwan Bazar wholesale market, the local onion selling price is Tk 85-90 per kg, while imported onion is selling for Tk 55-60.
In the retail markets, local onion is being sold at Tk 100 per kg and imported onion is being sold for Tk 70-90.
Besides, many people and traders were seen in the Karwan Bazar wholesale market last night. They were all hoarding on onions. The scene continued till noon today.
India on Monday banned exports of all varieties of onion, except those cut, sliced or in powder form, with immediate effect to cap its rising prices in the domestic market.