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Onion price now Tk 80-85 a kg

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30th-Oct-2017       
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Staff Reporter :
According to the Trading Corporation of Bangladesh (TCB) retail traders were selling per kilogram (kg) of imported onions at Tk 60 to Tk 70 while local variety at Tk 80 to Tk 85 in the city's kitchen market on Sunday.
Onion price was ranging between Tk 35 and Tk 50 on the same day of the last month and between Tk 20 and Tk 35 the same day a year ago, the data show.
 "Onion price has increased dramatically in the retail market in the last one year. It really hits lower income group of people hard who spend a sizable portion of earnings on food," economist Prof Mustafizur Rahman told
The New Nation yesterday.    
He said, price hike of onions and rice would accelerate the overall inflation further putting an adverse impact on the national economy.
"The price of onions has doubled in the city's kitchen market within a period one month on tight supplies," Monir Hossain, a trader at the Karwan Bazar kitchen of market Told The New Nation yesterday.
He said, crop damage by recent flood contributed to the supply shortage and the wholesalers held heir inventory on expectations of further price spike compounding the situation further. "Prices are rising steadily as there is a shortage of onion supply due to excessive rains this year. The rise is only seasonal and price will get corrected soon," a Commerce Ministry official told The New Nation yesterday.

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