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Onion price nearly doubles overnight, consumers blame the dishonest business people

by tbhad

Staff Correspondent, Dhaka

Following India’s extension of export restrictions, the price of onions in Bangladesh nearly doubled overnight.

On Saturday morning, local onions were being sold at Tk220 in the capital, which was Tk140 a day before.

Meanwhile, imported or Indian onions were Tk200 this morning, up from Tk120-140 on Friday.

According to a notification issued by the Indian Ministry of Commerce and Industry on Thursday (7 December), the country announced an extension of onion export restrictions – minimum export price at $800 and 40% export duties – until 31 March next year.

This decision aims to bolster domestic availability and regulate prices, as stated in the notification’s rationale.

The notification outlines three conditions under which consignments of onions can be exported.

But, before the decision takes effect in the market, the people of the country is observing the sudden price hike.
‘Which is actually very illogical and unfortunate,’ told Nahida Shabnam, who came to the market to shop the commodities.
She says, ‘It’s absurd that without a reason the price can be doubled over night. It’s the dishonest business people who are creating unusual profit by this mean. They should be punished first.’
‘Our political parties are busy with the fight for power. They even come up with blockade like program, which can effect the price hike. But they even don’t dare to raise voice against these dishonest business strategy,’ told Raihan, who was in the market of Mohammadpur for his daily shopping.
Meanwhile, several teams of the Directorate General of Consumer Rights Protection starts their operation in the onion markets. Saturday morning a team starts their activity in Karwan Bazar of the capital.
According to the press release of consumer rights, from December 9, operations will be conducted to control the onion market by the National Directorate of Consumer Rights Protection across the country including Dhaka city. Four separate teams headed by four officials of the Directorate will conduct the market campaign in Dhaka. Besides, all the departmental and district offices of the country will conduct the campaign across the country.

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