Onion price jumps overnight

FE Team | Published: September 30, 2019 20:27:56

Price of onion in Dhaka's kitchen markets increased by up to Tk 40 a kilogram to Tk 120 a kg in 24 hours. Such rise is unfortunate. As soon as India imposed a ban on export of onion on Sunday, some traders in Bangladesh reportedly stopped selling onion from their stocks. The prices of onion of both local and imported varieties surged immediately. The onions that are being sold now, were procured or imported at cheaper prices. But, those who had stocks decided to raise the price taking advantage of the situation.
However, we have serious shortcomings in making projection on demand, production, stocks and supply. As a result, certain quarters can manipulate the market price and the consumers, especially the poor and lower income group, suffer. A monitoring system to ensure adequate supply of food items is the demand of the time.
Rafiqul Haque
Mohammadpur, Dhaka