Prices of onion, ginger and few other spices up

FE Team | Published: May 17, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

FE Report
Prices of onion, ginger and few other spices increased on Friday comparing that of last week.
Few vegetables including brinjal witnessed a hike while other commodities remained static.
Onion of local variety was sold at Tk 35-38 per kg and imported variety at Tk 28-30 per kg on Friday, Tk 2-3 increase in seven days and Tk 5-6 hike in two weeks, according to key kitchen markets in the city.
Hoarding and market syndication by big traders and importers, eyeing a windfall profit in the upcoming month of Ramadan, is causing the unusual hike, experts and officials said.
Onion prices in the country normally remain at the lowest level between March and June, as it is the harvesting and primary marketing period of the item. But, the tradition is not visible this harvest season, a Department of Agricultural Marketing (DAM) official told the FE.
He said that in Dhaka, minimum price of local onion was recorded at Tk 25 per kg in mid-April of this year, which was Tk 22 last year. It is a new record, considering the price scenario of last five years.
He said onion production and import is very good this year, so there is no reason behind the increasing price trend of the produce in this season.
"Hoarding and market syndication are the main reasons behind the price hike, both in urban and rural areas," he said.
However, traders in Karwan Bazar and Moulovibazar---two biggest wholesale markets in Dhaka said prices of the produce have increased significantly in the major hubs, including Pabna, Bogra, Rangpur, Dinajpur and Faridpur by Tk 1500-2000 per tonne (1000 kg) in seven days.
Meanwhile, after hitting a all time high of Tk 260 per kg (imported) and Tk 220 per kg (local) in the third week of April, ginger price started to reduce from the beginning of May, the prices of the crop reduced to Tk 200-220 per kg and Tk 140-160 per kg respectively during the time.