Manipulating Market: Govt to move against 2,500 onion traders | The Daily Star
12:00 AM, November 19, 2019 / LAST MODIFIED: 04:21 AM, November 19, 2019

Manipulating Market: Govt to move against 2,500 onion traders

Prices fall further even before arrival of cargo

Even before the cargo plane arrived with the first consignment of onions, prices of the essential spice dropped further for the second consecutive day yesterday.

Visiting different kitchen markets in the capital yesterday, our correspondents found that onions imported from Egypt were sold for Tk 120-150 while the onions imported from Myanmar was sold for Tk 150-170.

Prices of these varieties rose to Tk220-250 on Saturday.

Meanwhile, Commerce Secretary Zafar Uddin said the government had identified 2,500 traders responsible for manipulating the onion price across the country, reports UNB.

Action would be taken against them, the secretary said.

“On behalf of the government, I want to assure people that the prices of onions will come down soon,” he said.

Cargo planes carrying onions from abroad will hopefully reach the country on Tuesday, said Zafar.

“A huge amount of onion is also being imported trough sea route,” he said.

Initiatives have been taken to import onions from Egypt, Turkey, and China via air cargo following the directives from the prime minister, he added.

In Chattogram, wholesale price of onions imported from Myanmar came down to Tk140-150 per kg at Khatunganj kitchen market.

The same variety was sold for Tk190-200 per kg a day before.

Retailers in the kitchen markets, however, still found to be charging Tk 200-230 per kg.

Abdur Rashid, a wholesaler at Karwanbazar kitchen market, told The Daily Star that there was no mechanism for controlling the onion price and that the traders were selling the bulbs at a price fixed by them.

Prices dropped as the number of customers reduced significantly in the last two days, the trader said.

Onion prices began to rise across the country about two months ago when the Indian government imposed a ban on onion export.

But the prices started to rise sharply in the last week.

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