When India banned the export of onion, the price in Bangladesh rose by the hour. But now the export ban has been lifted but there is not much impact at the consumer level. The price of the product has not decreased yet in the retail markets of Dhaka.
However, the price of onion in the wholesale market and rural areas is slightly lower. The price of onion in wholesale in Karwan Bazar was seen to decrease by two rupees per kg on Sunday.
Apart from this, the price of onion in Shyambazar, the biggest market in the capital, has decreased by Tk 5 per kg and in the mokams of Pabna district, the price of onion has decreased to Tk 10 per kg. Again in Faridpur the price has decreased by an average of Tk 5 per kg.
The central government of India has lifted the ban on onion export on Saturday after almost six months. The Directorate General of Foreign Trade (DGFT), the country’s central agency for foreign trade control, announced the lifting of the ban in a notification. However, DGFT has fixed minimum export price (MEP) of onion at 550 dollars.
Importers of Bangladesh say that the minimum export price of onion in India has been set high. Because of that price, onion cannot be imported. Because if onion is imported at 550 dollars, the price per kg in the country’s market will be close to 80 rupees, which is higher than the current market price.
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Abdul Majed, an onion importer in Shyambazar, told Jago News that if onion is $550 per ton, the price per kg is Tk 62 at the dollar rate. After that 5 percent VAT and 5 percent AI is to be paid. In addition, transportation and other costs to bring this onion to the market will be 80 taka.
For this reason lifting the export ban will not help us. But if India reduces MEP then it will be beneficial.
However, he also said that the biggest advantage of lifting the export ban is that onion prices will not increase abnormally now. Because the price can be imported only if it goes above 80 rupees.
Meanwhile, domestic onion was sold at Tk 320 per kg (5 kg) in Karwan Bazar on Sunday, which was Tk 330 before the ban was lifted on Saturday. Khalek Uddin, the seller of that market, said that today the range has decreased by 10 taka. Fluctuates normally 10-20 rupees per day.
He said, however, I heard that the price has decreased a little more in Mokam. If they come in the market tomorrow, the price will go down a bit more.
On the other hand, the price of onion in Shyambazar has decreased by Tk 5 said Abdul Majed. He said, today the price of onion has decreased by 5 taka per kg and is being sold at the rate of 55-58 taka.
However, the price of onion has not decreased in the retail market. Segunbagicha and Shantinagar markets have been seen that per kg of desi onion is being sold at Tk 65-72. The sellers said that onions were sold at this price on Saturday as well.
Noor Hossain of Comilla Enterprises told Jago News that onions have not been bought yet after the export ban. Everyone is selling at the previous price.
400 rupees per mana decreased in Pabna
At Dhulauri Market of Santhia Upazila, Pabna, onions were sold at Tk 2,000 to Tk 2,200 per maund on Sunday, which was Tk 2,400 to Tk 2,600 on Saturday morning. Bayezid Ali, the shopkeeper of Dhulauri market, said that the price of onion is decreasing due to the withdrawal of India’s export ban.
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Amirul, the dealer of Sujanagar haat, said that after the announcement of withdrawal of the export ban on Saturday, the price decreased by 200 taka, and on Sunday, it decreased by 200 taka. That is, 400 rupees per mana has been reduced so far.
However, the farmers are angry and disappointed due to the reduction in onion prices. Farmer Mohsin Ali of Kumirgari village of Santhia Upazila said that whenever we go to get a better price of onion, it is imported from outside and the price is reduced. The same will be done this time. On the pretext that onion will come from India, the traders have reduced the price.
Khaja Abu Said of Biswaspara village and Nazrul Islam of Chinakhara village of Sujanagar upazila said similar things.
In Faridpur, the price has decreased less
Meanwhile, Aposh Biswas, a farmer of Saltha village in Saltha Upazila of Faridpur, told Jago News that I sold a maund of onion for Tk 2,300 in the last bazaar. Today I sold it for 1 thousand 900 taka. In the space of three-four days, about 400 rupees decreased. This is causing us loss. If we sell onion at 2500 to 3000 taka per maund, our invoice or capital would increase.
On the other hand, the onion trader of Satair Bazar of Boalmari Upazila of Faridpur said. Atiyar Rahman told Jago News that onions are being sold at Tk 2,100 to Tk 2,000 per maund. This price has been running in the wholesale market for a week.
Onion trader of Madhukhali Upazila Sadar. Alam Sheikh told Jago News that last Friday, I bought onions at the wholesale market in Madhukhali for Tk 2,300 to Tk 2,350 per maund. Two days later, on Sunday, that onion is being sold for Tk 2,100 to Tk 2,250. In other words, in the last two days, onions are being sold at an average price of one and a half to two hundred rupees per maund.
The price has also decreased in Rajbari
Imran Hossain, farmer of Rajbari said, I brought 10 maunds of onions in the market with high hopes for the need of money. But today the price is much lower than yesterday. The onion that I sold yesterday for 2 thousand 376 taka, today that onion was sold for a maximum of 2 thousand taka. On hearing that onion will arrive from India, the price has decreased in Mokam. Picked from the field, dried and kept at home, the cost of one onion is more than 3 thousand taka. As such we are affected in today’s market.
Ripon Molla, another farmer, said that their onion yield has improved this time. The price was quite good. But they are disappointed because of the sudden fall in onion prices. After hearing the good price, he came to sell onion in the market and saw that today it has decreased by 200 rupees compared to yesterday. Even though there is a lot of onion in the country, the price drops like this when you hear the news of onion import from India. Both farmers and traders were affected by this. As a result, a fixed market price is good for everyone.
Quddus Molla, owner of Molla Traders of Senapur Bazar, said that Sonapur Bazar is one of the largest onion markets in the district. There is an onion market in this market three days a week. On an average, about 80 to 100 cars of onions go from this market to different parts of the country every day. This time, like onions, the farmers got good prices. The price is a little lower today compared to the last few days. For example Pratiman bought today from 2 thousand to 2200 taka. Which was Tk 2400/2450 two days ago. Bought 20 tons from morning to afternoon. Prices of Indian onion have fallen on the news of LC.
Alamgir Hossain of Bhai Bhai Traders in Baliakandi Bazaar said that the onion market is different every day. Today, for example, in Baliakandi market, 2 thousand to 2300 rupees are being sold.
NH/MHR/GKS
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