Volatile onion market

FE Team | Published: September 20, 2020 19:21:55

What a similarity in opposite directions! When we read reports that India slapped a ban on export of onion, prices in Bangladesh surged immediately. Once trucks carrying Indian onion started coming towards Bangladesh, prices started coming down immediately. So, demand and supply on the ground didn't matter in determining the market prices of different varieties in Bangladesh market.
This trend also nullifies a section of traders' argument that market could not be regulated by carrying out drive in the kitchen market and warehouses. This tendency does not also indicate that they are ready for fair competition. They might not have noticed that such business practices may eventually make others think that they are competent for doing good business.
Such business practices may also invite stringent regulations that may not be prestigious for traders as a whole. Consumers are also becoming increasingly hostile to what is often called business syndicates. Since businessmen are engaged in giving essential services to people, they deserve respect and they would have to earn it through fair play.
Bayezid Bostami
Bazidpur, Kishoreganj