Onion prices jump by Tk10 in Ctg's Khatunganj

Within a span of just one day, the price of per kilogram of onion has jumped by up to Tk10 at Chattogram's largest wholesale market Khatunganj, after reports of suspending new import permits (IPs), raising concern among consumers.

Visiting the wholesale hub today (6 January), it was found that Indian onions were being sold at Tk65-70 per kg, up from Tk55-60 just a day earlier.

Among local varieties, 'Murikut' onions were sold at Tk48-50 per kg, while Meherpur onions priced Tk40-42 per kg.

The government has reportedly stopped issuing new IPs in an effort to protect the interests of local farmers. However, onions can still be imported against previously issued IPs until 30 January. Since no new IPs were issued from yesterday morning, importers fear further instability in the market.

Yusuf Ali, sub-assistant plant quarantine official at Hili Land Port, told The Business Standard that IPs have remained suspended since yesterday and no new approvals were being issued, expressing reluctance to provide details about the matter.

Meanwhile, traders in Pabna blamed dense fog for low supply to the market. According to hoarders and wholesalers, onions that sold for Tk1,700-1,800 per maund in the morning surged to Tk1,900-2,000 by afternoon.

Pabna-based wholesaler Md Munaf said there is no actual shortage of onions in the market but prices rose temporarily due to transport disruptions caused by winter fog.

Acknowledging the price hike, Md Mohiuddin, general secretary of Chaktai-Khatunganj Aratdar General Traders Welfare Association, said considering the upcoming Ramadan, the import window should have remained open for at least another 10 to 15 days and continued imports would mitigate the market.

Earlier in November, retail onion prices had crossed Tk150 per kg, triggering widespread criticism. Following the announcement of Indian imports, wholesale prices fell to around Tk60 per kg.

Mohammad Fayez Ullah, deputy director of the Directorate of National Consumer Rights Protection in Chattogram, said they are closely monitoring the situation as local varieties of onions are now entering the market.

To stabilise the market, the Department of Agricultural Extension on 7 December approved the import of 1,500 tonnes of onions from India.

At the time, Agriculture Adviser Lt Gen (retd) Md Jahangir Alam Chowdhury said 50 IPs would be issued daily, allowing each importer to bring in a maximum of 30 tonnes of onions to help keep prices stable.