Onion prices have started to drop in the market with the increase in imports through the Hili Land Port. In the past week, the price of onions has decreased by Tk 23 to Tk 25 per kilogram in Dinajpur's Hili landport market.
Currently, wholesale onions are being sold for Tk 30 to Tk 35 per kilogram, depending on the type. Traders who come to buy onions are happy about the sudden price drop. Importers are claiming that onion prices will decrease further.
According to sources from Hili Land Port, onions from Indore, Nasik, Gujarat, and Belori varieties are being imported in large quantities. Just a week ago, these varieties were sold for Tk 55 to Tk 60 per kilogram at the port. But now, due to an increase in imports, onion prices have started to drop, and onions are being sold at Tk 30 to Tk 35 per kilogram.
The quantity of onion imports through Hili Land Port has significantly increased. A week ago, 5 to 10 trucks of onions were imported, but now the number has doubled.
Informed about the situation, Ainal Ali, an onion trader from Hili, said, "I buy onions from the Hili Land Port and supply them in bulk to various markets across the northern region of the country. From the start of this week, onion prices have been on a downward trend compared to last week. The onions that were sold for Tk 60 to Tk 65 a week ago are now being traded at Tk 30 to Tk 35 per kilogram. The price of onions continues to decrease daily."
Another trader, Abdul Khayer, mentioned that a sufficient amount of onions is being imported from India. With the increase in imports, the prices have started to drop. He also stated that domestic new onions and leaf onions are now abundant in the market. Domestic onions are in higher demand, while Indian onions have seen a decrease in demand, which is contributing to the price drop. Just a week ago, onions were being sold for Tk 60 to Tk 65 per kilogram, but now the price has fallen to below Tk 32 per kilogram, and it is being traded between Tk 32 and Tk 35 per kilogram.
Mobarok Hossain, an onion importer at Hili Land Port, explained that new onions have started to come in from different states in India. This has increased supply in India, and as a result, the price of onions has dropped significantly in the Indian market. Due to this, Bangladesh is also able to buy onions at a lower price, and they are being sold at lower prices in the domestic market.
Furthermore, the government has removed the import duty on onions, which has further boosted imports. As a result, the supply of onions in the domestic market has increased, and prices are continuing to drop.
Indian traders have informed local importers that the Indian government is considering withdrawing the minimum export price it had set for onions. If this happens, the import of onions at Hili Land Port is expected to increase further, potentially lowering the prices even more.
