Onion price now shoots up at super shops
Onion prices in the local wholesale markets remain unchanged
The price of onion has surged overnight at super shops in the capital following India's decision to stop onion export to Bangladesh.
On Tuesday, Agora is selling Indian onions at Tk100 and locally grown onions at Tk110. While yesterday Indian onions were sold at Tk77 and locally grown onions at Tk86.
According to Meena Bazar website, price of locally grown onions rose from Tk95 to Tk110 per kilogram, while imported Indian onions are not available there.
Keep updated, follow The Business Standard's Google news channel
Shwapno is selling Indian onions at Tk95 and locally grown onions at Tk115. Unimart is selling locally grown onion at TK95 and Indian at TK90 per kilogram.
Visiting capital's Karwan Bazar it was found that trader are selling onion at the yesterday's price. On Tuesday morning Indian onions were sold at Tk100 and locally grown onions at Tk110.
However, onion prices in the local wholesale markets remain unchanged. Indian onions are priced at Tk90 and locally grown onions are priced at Tk110 per kilogram.
"Onion price hike does not have much impact on the wholesale market as we do a very little profit," said Raj Ali, a wholesale onion trader from Karwan Bazar.
On September 13, India set the minimum export price of onions at $850 per tonne to protect their local market price as recent floods hampered onion output in the state of Maharashtra.
Barely a day later, onion prices in the local markets rose. On September 29, the neighbouring country stopped exporting onion to Bangladesh.
