Lax monitoring, hoarding send onion prices soaring in Khulna
By stockpiling locally produced onions during peak season, these traders are believed to be fueling an artificial crisis
The price of onions has suddenly surged in Khulna after remaining stable throughout Ramadan, even though it is currently peak harvesting season.
Onions that were selling for Tk30-35 per kg only days ago are now selling at Tk48-50 in Khulna's wholesale markets, while the prices have reached as high as Tk60 per kg in retail.
Consumers have attributed the abrupt hike to a lack of effective market monitoring.
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Some buyers who usually purchase onions directly from farmers have allegedly begun hoarding supplies using the excuse of a possible ban on Indian onion imports, fuelling an artificial crisis, according to traders.
During a visit to several wholesale markets in Khulna on Saturday, it was observed that traders collecting onions from Jhenaidah, Rajbari and Kushtia were reportedly hoarding supplies rather than releasing them into the market.
Zahid Hasan, a shopper in Daulatpur, said, "During Ramadan and Eid, prices were under control, but now dishonest traders are making things difficult. The onions I used to buy at Tk30-35 now cost Tk55-60."
"The government should resume the level of market monitoring seen during Ramadan and Eid," he added.
Touhidul Islam, a wholesaler at Sonadanga market, said panic buying and stockpiling at home are further pushing up prices.
He alleged that some dishonest traders are hoarding onions, fearing that LC (letter of credit) for imports may not resume, adding more pressure to the supply chain.
Kawser, a retailer at Moylapota market, said, "The price hike is due to hoarders."
Advocate Qudrat-e-Khuda, secretary of Sushashoner Jonno Nagorik (Shujan), Khulna city unit, said although the government had effectively controlled prices during Ramadan, the trader syndicate remained active.
Mohammad Selim, deputy director of the Directorate of National Consumer Rights Protection, Khulna division, said they are already taking legal action, including imposing fines on those violating consumer rights. "Since being informed about the hoarding issue, we will monitor the market closely and take necessary steps."
