Onion, vegetable prices soar ahead of Eid

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The prices of onion, ginger and vegetables marked a steep hike this week, putting more pressure on the wallets of the consumers ahead of Eid-ul-Azha.

On Saturday, in the span of week, the price of imported onion jumped by Tk 5-8 to Tk 32-43 a kg while local onion price shot up by Tk 10-15 to Tk 45-48 a kg, according to data compiled by state-run Trading Corporation of Bangladesh (TCB).

Ginger prices also soared by Tk 10 to Tk 80-140 per kg in a week.

Garlic price shot up by Tk 10-20 a kg while vegetables also got dearer by Tk 5-10 per kg in the span of a week.

Traders are blaming the incessant rain in the past few weeks and higher import cost for the abrupt price hike of these essentials.

However, the market insiders have said the syndicates of big traders and importers are targeting windfall profits ahead of Eid-ul-Azha festivity by manipulating the prices.

“Onion prices are likely to rise further ahead of Eid-ul-Azha,” said Nurul Islam, the proprietor of onion importer Ashik Enterprise.
He also claimed that they are spending more on onion import due to a price hike of the item in India.

TCB recorded a 38 percent hike in onion price in last one month.

According to TCB data, onion price soared to Tk 40-45 per kg (local) and Tk 30-35 (imported) per kg on Saturday from Tk 32-40 (local) and Tk 25-30 (imported) a week earlier.

TCB recorded a 15 percent hike in ginger price in last one month. The item was selling at Tk 80-140 a kg on Saturday.

Turmeric price jumped by 2.94 percent, red chilli price by 9.38 percent and packed edible oil price increased by 2.97 percent (5 litre jar) and 1.46 percent (1 litre jar) in the last month, according to TCB data.

Masud Mahmud, a trader in Karwan Bazar, said the prices of onion marked a steep rise at wholesale market over the last two weeks, pushing up the retail prices.

He said a disruption in transportation of onion caused by heavy rainfall over the last few weeks has also contributed to the price hike.

Sultan Hossain, a private service holder, told daily sun that prices of most essential commodities, including spices and vegetables have skyrocketed in the city.

“The indiscriminate price spiral is taking a heavy toll on people with fixed-income like us,” he said.

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