Onion prices have declined by Tk 10 a kg at Hili in Dinajpur district after the news that imported onion is coming from India.
Traders expect that the price will fall further once the import begins.
Wholesalers and retailers say that onion prices are going up in the morning and then going down in the afternoon. "If the onion prices fluctuate in such a manner, traders will have to incur a loss of Tk 5-10 a kg," one of the traders says.
Visiting BanglaHili wholesale and retail marjets early Tuesday afternoon, the local 'Murikata' variety of onion which was sold at Tk 100-105 per kg just two days ago, is now being sold at Tk 90-95 per kg.
One Farhad Hossain who came to Hili Bazar to buy onion, said he bought onion at Tk 100 a kg just two days ago, but today bought half a kg onion at Tk 45.
"We've heard that onion is being imported from India. As the news has spread, the onion prices have started falling. We're toiling masses. Though the prices of essentials have constantly been rising, our wages don't rise. What can we do? We have no alternative but to purchase onion paying high prices. We're now getting half a kg of onion paying for one kg," he said.
Retail trader Mobarak Hossain at Hili Bazar said he sold onion at Tk 100 a kg buying at Tk 94-95 a kg from wholesale market just two days ago. "But, I'm selling onion at Tk 90-95 per kg buying at Tk 87-88 per kg from the wholesale market this morning (Tuesday)," he said.
He also regretted that the retailers incurred losses as they bought onion at a rate in the morning and sold at another rate in the afternoon. "We, the wholesalers and retailers face a very difficult situation if the prices of onion fluctuate at the arats. We are incurring Tk 5-10 per kg if the prices fluctuate in such a manner. The onion which we bought at the local wholesale market at Tk 95-100 per kg, we are selling those at Tk 100-105 per kg at the retail level. The onion which I bought four days ago could not sell completely."
Wholesale onion trader Abu Taher at Hili Bazar said different varieties of onion are being sold at the arats at Tk 2,800-3,600 per maund. "After buying onion at Tk 2,800-3,600 per maund at the arats, we need to pay transportation cost. After meeting all the expenses, we pay Tk 93.50 per kg at the arats."
He also predicted that the onion prices would drastically fall once the import from India begins.
It may be mentioned that the Indian government suspended onion export on the ground of shortage in the domestic market without any prior notice on December 8 last. Then the onion of Tk 40-45 per kg increased by several times and subsequently reached at Tk 140 per kg.
END/CORRESPONDENT/SZA
