The price of onion in the Dhaka market has increased to over Tk 100 per kg. In the last two days, it has increased to Tk 20 to 25 per kg. Now, domestic onions are being sold at Tk 100 to 110 per kg in the retail market, which was Tk 80 to 85 three days ago.

The picture is the same in the wholesale market. The price of local onions has increased to Tk 90 to 105 per kg, depending on quality, which was also sold at Tk 72 to 85 last Friday and Saturday.

Shopkeepers at Shyambazar, the capital's largest wholesale market, say that the pressure on domestic onions has increased due to the ban on Indian onion imports. The market has become unstable due to the decrease in supply compared to demand.

Comilla Arad's Aartadar Abul Kalam told the media, "Onion prices have increased in Aarta in Pabna and Faridpur. This has affected the wholesale market across the country. Local prices have increased by about Tk 20 compared to before."

He also said, "There is now a supply crisis. The amount of onions coming into the market is not enough."

The same picture is seen in Chittagong.

The price of onion has also increased by Tk 20 to Tk 25 per kg in the Chaktai-Khatunganj wholesale market in Chittagong in the span of three days. On Monday (November 3), it was seen that local onions were being sold at Tk 90 to 105 per kg, depending on quality, which was sold at Tk 72 to 85 last Thursday and Friday.

Mohammad Idris Mia, general secretary of Khatunganj Hamidullah Mia Bazar Traders Association, told the media, "The pressure on domestic onions has increased due to the ban on Indian onion imports. The decrease in supply has created instability in the market."

Seasonal effects and import crisis

Concerned people fear that the planting of the Rabi season in the country has started late, as a result, it will take time for new onions to reach the market. Planting has not yet been completed in various regions including Pabna, Faridpur, Kushtia and Rajbari. They believe that the market may become more unstable if import approval is not received on time.

On the other hand, the Department of Agriculture says that there is still no shortage of onions in the country. Farmers have sufficient stocks of onions. If imports are allowed at this time, farmers will face huge losses.

Additional Director (Monitoring and Implementation) of the Department of Agricultural Extension, Dr. Md. Jamal Uddin said, 'There is no reason for the price of onion to increase at an abnormal rate at the moment. This is undoubtedly a business manipulation. Farmers still have five lakh tonnes of onion in their hands, so there will be no crisis in the next two months.'

He said, "Summer onions will come to the market in November, and by December, the muri-cut onions will also start to ripen. As a result, the prices will return to normal."

Allegations of manipulation and syndicate

Both buyers and sellers are talking about an unusual situation with the sudden price increase in the market. Abdul Quader, a trader at Karwan Bazar, told the media, "The price has increased by 10 taka per kg since Thursday. We are now buying at 77-80 taka and selling at 80-90 taka. Last year at this time the price was 130-150 taka. Compared to that, this time it is being sold at a much lower price."

CAB Vice President SM Nazer Hossain said, "Imports are being pushed by creating an artificial crisis in the market. Prices are being increased due to the manipulation of wholesalers, commission agents and Dadan traders."