Finance
Onion Price Onion price decreases by Tk 40 per kg due to the supply of new varieties
Dhaka, December 12: According to market sources, the price of onion decreased by Tk 40 per kg on Monday due to the arrival of newly produced Murikata and summer varieties of onion in the market.
On Monday, chopped onion is being sold at Tk 100 per kg, imported onion at Tk 180 and domestic onion at Tk 200 per kg.
The previous day Murikata onion was selling at Tk 140, imported onion at Tk 210 and local onion at Tk 240 per kg.
According to Ministry of Agriculture sources, about 5 lakh 71 thousand metric tons of onions have been produced from July to December of the current fiscal year 2023-24.
Which is 1 lakh 55 thousand tons more than the same period of last financial year.
Agriculture Minister Abdur Razzak told UNB on Monday that there is sufficient supply of onion in the market, so there is no reason for the abnormal price increase.
He said, according to the previous LC, about 50 thousand tons of onions are coming to Bangladesh from India. Besides, the supply of freshly cut onions has increased in the market. Therefore, the price of onion will come down to normal level within a week, said the minister.
However, Bashir Uddin, a wholesale seller of onions in Karwan Bazaar, told this reporter that the supply of onions in the market has increased on Monday and the price has also decreased compared to the previous two days.
He said that daily new arrivals are increasing rapidly as farmers are now getting good prices.
Bashir also said that the drive by law enforcement agencies against illegal onion hoarding has helped increase the supply of old onions in the market.
Director General of Agriculture Extension Department Badal Chandra Biswas said that Murikata onion is cultivated in about 50,000 hectares of land every year, with a yield of about 8 lakh tons.
About 500 hectares of summer onion has been planted this year, with an expected yield of around 50,000 tonnes.
He also mentioned that these Murikata and summer varieties of onions have started coming in the market and will be available for 3 to 3 and a half months.
After that, the main types of onion will start coming in the market and this year the production may be around 26 lakh to 28 lakh tonnes, he said.
He said that high yielding varieties of onions have been cultivated in large areas this year, which are likely to yield more.
