Onion price is gradually reducing both at wholesale and retail levels with a 'steady' drop in the local onion price compared to the price of non-local variety in the city markets.
The imported onion price was found rapidly declining over the week in the city markets compared to the price of the local onion as most people prefer local onion for their daily cuisine, but production of the variety is approximately one third of the annual demand.
Based on the quality, the China variety onion is now being sold ranging from Taka 95 to 130 per kg. Price of this variety has reduced by Taka 30 from Taka 125-150 a week ago. The local onion is Taka 180-185 per kg in the wholesale market.
At the retail level, imported onion is being sold at Taka 150-180 against the local variety price of Taka 220 per kg in the city, said the traders.
"The imported onion price is significantly dropping at the wholesale market with increasing supply over the period," said Mosharraf Hossen, a wholesaler of city's Shyambazar area. The imported variety is now being sold at Taka 95 to 130 per kg, which dropped from Taka 125-150 a week ago."
On the other hand, the price of the best quality local onion is reducing steadily over the week with per kg wholesale price of Taka 180-185. It reduced by Taka 15-20 from its earlier level price of Taka 200-210, at the wholesale market, said Hossain.
"The onion market is now cooling down over the week with per kg price of Taka 180-185, a fall by Taka 30, from its last week price of Taka 210", said another wholesaler Kanai Lal Saha, proprietor of Mrs Sri Ram Bhander of Hazrat Shah Ali High School Market of Mirpur section-1.
Meanwhile, the retail price of per kg imported onion is Taka 190-220, said a retailer, Mohammad Milon, of Mirpur area.
At Kawran Bazar, the imported varieties were being sold between Taka 120 and 180 per kg on Friday while the fine quality local onion was sold at Taka 220 per kg and the onion spring (onion with leaves) was sold at Taka 100-120.
According to the daily market monitoring report prepared by the state-owned Trading Corporation of Bangladesh (TCB), imported onion was being sold at Taka 130-190 per kg, while it was Taka 200-220 per kg for the local onion on Saturday.
Since India put its onion exports on hold on September 29, onion prices had been on the rise in the Bangladesh kitchen market. Local onions were selling as high as Tk250 per kg in the city's kitchen markets, while onions imported from Myanmar were selling at Tk230-240, breaking all the previous records.