Onion prices jumped in retail markets in Dhaka in the wake of India's extension of the onion export ban on Friday.
Retailers were selling the homegrown variety of onion at Tk 204 a kg at Karwan Bazar in Dhaka today, compared with Tk 130 per kg on Thursday. Prices of Indian onion rose to Tk 110 from Tk 70 per kg.
India extended the ban until March to increase the supply of onion in the domestic market and control the price of the vegetable.
Md Nurul Islam, a retailer at Karwan Bazar, told that onion prices spiralled in Bangladesh after India extended its export ban.
Besides, there is not enough supply of onion as per demand in the local market, he said.
"I went to Shyambazar wholesale market to buy at least 10 sacks of onion, but I could purchase only three sacks due to short supply," he said.
Mohammad Abdul Mazed, general secretary of the Shyambazar Onion Wholesalers Association, said India's export ban has had a big impact on the country's market. Rains in the past few days have also affected the prices, he said.
"Supply crunch is another reason for the price hike," he added.
ARS
