Onion prices still stay high, other Ramadan essentials soar too

Infographics:TBS

This Ramadan, the onion market has defied tradition, remaining stable while prices of other essential items have spiked as usual in Dhaka's kitchen markets.

Normally, onion prices fluctuate wildly just before Ramadan. This year, however, prices jumped a month ago, rising from Tk70-80 to Tk110-120 per kg. Although the price has since dipped slightly to Tk90-100, it is still significantly higher than last year.

Onion prices are, however, still a staggering 183% higher compared to last year at the same time, when it was peak season and prices were as low as Tk25-35. The culprit? Disruptions in regular onion imports from India.

Despite the relative stability in onions, prices of other essential items followed their usual Ramadan surge. Monitoring efforts proved ineffective, with eggplants, potatoes, cucumbers, lemons, broiler chicken, beef, and sugar all experiencing significant increases.

Data from the Trading Corporation of Bangladesh paint a grim picture.

Eggplant, an iftar staple, prices skyrocketed from Tk50-60 to Tk100-120 per kg in the past month, while cucumbers went from Tk40-60 to Tk100-120 per kg. Lemons also saw a price hike, with a pack of four costing Tk50-80 compared to Tk20-23 earlier. Potatoes also saw a Tk10 increase per kg.

Broiler chicken joined the price surge, reaching Tk230 per kg from Tk200. Beef prices have been volatile since January, with the Meat Traders' Association admitting its inability to control the market. Prices currently range from Tk750-780 per kg, with some vendors even charging Tk800.

The association's president, Golam Murtaza, said, "Everyone is doing business here as they please. No one is listening to anyone."

A silver lining emerged with a slight decrease in egg prices, dropping from Tk140 to Tk130-135 per dozen. Additionally, soybean oil prices took a welcome dip from Tk173 to Tk163 per litre due to a global market decline.

The National Consumer Rights Department blames the multi-handed supply chain for the vegetable price inflation. Director General AHM Safiquzzaman pointed out that "the price increases by Tk20 just by changing hands once in Karwan Bazar." This mark-up, repeated throughout the chain, leads to abnormal price hikes before Ramadan.

Stakeholders believe the mentality of traders is a major factor. Eggplants, potatoes, cucumbers, and lemons are all Ramadan staples used in popular iftar dishes like beguni and aloor chop, and sherbet. This predictable surge in demand is exploited by vendors every year.