Onion prices have come down considerably due to lower prices in India and increased imports. Onion price has decreased by Tk 22 to Tk 23 per kg at Hili land port in Dinajpur in a week as supply increases compared to demand. Onion is now being sold at the wholesale price of Tk 32 to Tk 38 per kg depending on the type. Meanwhile, the wholesalers who come to the port to buy onions are happy as the price has come down. The importers say that the price of onion will come down to Tk 20 in the coming days.
According to Hili land port office sources, Indore, Nashik, Gujarat, Belori varieties of onions are being imported more through the port. Even a week ago these types of onions were sold at the rate of Tk 55 to 60 per kg at the port. At present, due to the increase in import through the port, the price of onion of these varieties has reduced and is being sold at the rate of 32 to 38 taka.
Besides, the amount of onion import through the port has also increased compared to before. Last week, where 5 to 10 truckloads of onions were being imported through the port, now 25 to 30 truckloads of onions are being imported.
Ayub Hossain, who came to buy onions at Hili land port, said, “We buy onions from Hili land port and supply them to different places in the country.” Onion prices were lower since the beginning of this week compared to last week. At present, the price of onion has come to such a level that it is not worth mentioning. Onion which was 55 to 60 rupees a week ago, now the onion is being sold between 30 and 40 rupees. The price of onion is decreasing every day. Today I am buying onion at one price and sending it to Mokam, the next day I came to buy and heard that the price of onion has decreased further.
Pointing out that the onion market is now 'not good', this trader said, 'Many traders are afraid to buy onions at Mokam. Along with this, the demand for onion has decreased in Mokam too. Earlier I used to send onions by five to seven trucks. Now there are two to three truckloads of onions.
Abdur Razzak, another businessman who came to buy onion, said that at present sufficient amount of onion is being imported from India through the port. Due to the increase in imports, prices have also started to fall. In addition, local new onions have grown in sufficient quantity. Imported and domestic onion prices have become almost equal. As a result, the demand for domestic onion is high in the market. On the other hand, the demand for Indian onion is slightly less. Due to which the price is on the downward trend. A lot of onion is being imported through the port, but it is not being consumed in the market. Due to which the demand is low. A week ago, onions were sold at Tk 55 to Tk 60 per kg. The price of onion is decreasing from 5 to 7 taka per kg every day and now it is below 40 taka. Currently, onions are being sold between Tk 32 and Tk 38.
Mobarak Hossain, an onion importer at Hili land port, said that old varieties of onions were being imported from India through the port for quite some time. Due to the reduced supply of these onions, the price was high in the Indian market. Due to which we had to buy at a higher price. As a result, onions had to be sold at a higher price in the country's market.
He said, 'New onions have started growing in different provinces of India. As a result, the supply of onion in the market of that country has increased, the price is also very low. By doing this we can buy onion at a low price in India and we can also import it and sell it at a low price in the country's market.
'Furthermore, since the duty on import of onion has been withdrawn, the importers are inclined to import. As a result, the import of onions through the port has also increased. Due to this, the supply increases compared to the demand in the country's market and the price of onion is downward.
The importer also pointed out that the supply has increased as new domestic onions have started to emerge along with Indian onions. He said, 'The demand for imported onions has decreased due to the arrival of onions in the country's market. This has also affected the price.'
Meanwhile, Indian traders have told importers that the country's government, which has seen an increase in Indian onion supply, is considering withdrawing the minimum export price of the product. Giving such information, importer Mobarak Hossain said, 'If this minimum price is withdrawn, the import of onions through the port will increase. As a result, the price may come down a little more.'
