Following India’s decision to lift the ban on onion exports after five months, the price of imported onions in Bangladesh, has seen a significant decrease of Tk10 per kilogram within just one day. This move has been met with relief and satisfaction among low-income individuals in Hili who have been struggling with high onion prices.
A recent visit to Hili Bazar on a Sunday afternoon revealed a notable increase in the supply of local onions across all shops. Prices that were as high as Tk70 per kilogram on Saturday have now dropped to Tk60 per kilogram on Sunday, bringing much-needed respite to consumers like Sabuj Hossain, who found it challenging to manage household expenses with the inflated prices post-Eid.
Ashraful Islam, a resident of Hili, noted the immediate price drop of Tk10 per kilogram on Sunday following the news of imports resuming on Saturday. However, he expressed concerns about the absence of Indian onions in the market, hinting at possible market manipulation by traders. He called for government intervention to regulate the onion market and ensure fair pricing.
Abul Hasnat, an onion vendor at Hili Bazar, shed light on the market dynamics that led to the price fluctuations. He explained that the country had been relying on domestic onions for months due to import suspensions, causing prices to rise after Eid. With India’s decision to lift the export ban, imports are expected to resume soon, leading to a surge in market supply and subsequent price reductions. Hasnat expressed hope for further price drops with the influx of imported onions, providing relief to both vendors and consumers in Hili.
