Dhaka, Dec 06 (V7N) — Onion prices have jumped sharply across most markets in the country, rising by about Tk 50 per kg on the grounds of reduced supply.

Just three days ago, onions were being sold at Tk 80 to 90 per kg, but prices have now increased to Tk 120 to 130 per kg. Newly harvested onions are also selling at a high price, around Tk 110 per kg.

Traders said the price hike is mainly due to supply falling short of demand as the domestic onion season is nearing its end. With locally stored onions declining, market dependence on wholesalers and stockists has increased.

Market insiders allege that, as in previous years, a group of unscrupulous traders and hoarders has taken advantage of the situation. Farmers sold their onions last season without getting fair prices and currently have little stock left. As a result, onions are now largely controlled by profit-seeking hoarders who are allegedly creating syndicates, withholding supply and driving up prices. At the same time, pressure is reportedly mounting on the government to allow imports from India.

On-the-spot market checks show that onions which were sold at Tk 3,200–3,300 per maund just three days ago are now selling at Tk 4,200–4,300 per maund, marking an increase of around Tk 1,000 per maund.

Although newly cut onions have started arriving in the market, their supply remains insufficient compared to demand, keeping prices high. Both buyers and sellers, however, believe that prices may ease once imports begin and supply improves.

END/SMA/AJ