Published:  01:12 AM, 04 December 2019

Onion price falls following rise of supply in Ctg markets

Onion price falls following rise of supply in Ctg markets As the large onion shipment starts arriving at Chittagong port and getting release quickly, prices of onion start falling.

Onion supply is increasing in the market as large import shipment began to arrive. The Trading Corporation of Bangladesh (TCB) increased the number of trucks for selling onion in the open markets. Therefore, the prices of onion are going down gradually.

While visiting Khatunganj wholesale market, the largest wholesale market in the country, retail market Kazi Diwari, Riazuddin Bazar and TCB trucks in Agrabad, the trend of price reduction was observed.

On Sunday, 541 tons of onion arrived from China and Egypt in 19 containers at Chittagong port in the second shipment imported by BSM Group at Khatunganj. Earlier, On November 25, 580 tons of onion came from China in 20 containers. BSM Group Chairman Abul Bashar Chowdhury said that onions are a deciduous item.

Nevertheless, adding all costs, we have sold the first and second shipments separately among wholesalers across the country for a minimal profit. No more than 20-40 tons of onion were given to a wholesaler. As a result, it influenced in reducing  the price of onion in the market. Responding to a question, he said that as long as the process of importing onions from India does not begin, we will import onions as our social responsibility.

Many traders are importing onions through Chittagong port. One of them, on condition of anonymity, said that large groups are bringing big shipment of onions. It is a matter of time to reach in the country. If 50 importers bring 500 containers each, then the market will be stable very soon.

From the last 12 October to Sunday (December 1), Plant Quarantine Station of the Department of Agriculture Extensions permitted to import (IP) 97,85 tons onions. Of these, 62,374 tons from Egypt, 13,083 tons from China, 13,068 tons from Turkey, 5,880 tons from Pakistan, 1,600 tons from Sri Lanka, 1 thousand tons from Belgium, 680 tons from the Netherlands and 200 tons of onion will be imported from Uzbekistan.

Already, 10,967 tons of onion have been released from Chittagong  port. Of these, 5,306 tons came from Egypt, 2,772 tons from China, 1,228 tons from Myanmar, 1,066 tons from Turkey, 168 tons from the UAE and 427 tons onion from Pakistan.

Deputy Director of Chattogram Seaport Branch of the Plant Quarantine Center Md Asaduzzaman Bulbul told, "We are giving the highest priority to the issue of IP for the import of onions, the issue of exemption certificate of the plant quarantine center to release onion from the port. Onion containers are arriving daily through the port. There are also plenty of onions in the pipeline. Hopefully, the onion market will stabilize within a few days."

 According to sources, 22, 562 tons of onion arrived by boat from Myanmar at Teknaf ground port in November. In October, 21,844 tons of onion was imported. 

On November 19, TCB started selling onions in six trucks in Chattogram. 1 kg per person at 45 taka and 1 ton of onion per truck. The supply was insufficient. After the onion shipments of large groups arrived in the country, the TCB sold onion in Chattogram on Sunday in 10 trucks. On Monday, the number of trucks was increased to 13.

TCB trucks are being set up in the area around the police station, police lines, and police outposts to avoid unpleasant incidents. People buy TCB's onion in a neatly-arranged line at the Gate of Agrabad Government House-1 on Monday afternoon. However, in Jamalkhan, there was a long line of women and men in front of Dr Khastogir public school. Still, the low-to-middle-class buyers returned home smiling after buying onions.

Abdur Rahim, a local elderly buyer said that he did not buy onion from the market for several weeks. "Today I saw the line short and I stood up with courage. Turkey onions are big, 5 onions makes one kg."Onion prices are falling daily in Khatunganj. Mainly the price depends on the size and quality.

Mohammad Idris, General Secretary of the Hamidullah Market Merchants Association,  said that Chinese onion was sold at Tk 80-100 according to their quality, Egyptian onion at Tk 120, and Myanmar onion at Tk 170-180. Due to its small size and taste like native onion, the demand for Myanmar onion is high in Chattogram but the supply is low.

He said that import of onion has started in the container through Chittagong port. Supply of onion is increasing in the market.

Another warehouse owner said a little rotten, low quality Chinese onion is also being sold at Tk 70. TCB is selling onion at Tk 45. Whereas, a grocery store at Kazi Deori Bazar is selling the same item at Tk 70. Other  categories of  onions are being sold at Tk 180.

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