Onion price falls further

Prices of onion further declined in last seven days thanks to increasing supply from the growing hubs in the ongoing harvesting season, traders said.
Onion of local variety (Hali) was traded at Tk26-28 (wholesale) and Tk30-32 (retail) per kg in the city kitchen markets Saturday-a Tk 4.0 reduction in a week.
Imported Indian Nashik variety was traded at Tk24-26 (wholesale) and Tk26-28 (retail) per kg in the city on the day-Tk3-4 decline in the last seven days, Md Shafiq, a grocer at Nowabganj Bazar in the city said.
He said that a huge volume of onion is entering the city everyday as transportation has almost been normal in recent times despite the ongoing blockade.
Onion harvest is now at the last stage in Faridpur, Pabna, Kustia and Bogra regions.
Supply has increased to the city markets, which has eased the price, Narayn Chandra Saha, spice trader at Shyambazar in the city said.
Mr Saha, also an importer, said import cost is also stable at $280-$300 per tonne as production was good in India.
He said local production scenario is also very good this year.
He said that there is no possibility of shortage for the spice item in the coming months.
According to the Bangladesh Bureau of Statistics (BBS) and Directorate General of Food (DGoF), the country's onion output was 1.6 million tonnes in the last financial year (FY'14) against a domestic demand of 2.0 million tonnes.
The government has fixed a target to get 1.9 million tonnes of onion in the current fiscal, according to Department of Agriculture Extension (DAE).
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