India: Onion becomes 33% costlier, prices of other commodities stay high

Published 2024년 7월 12일

Tridge summary

Dhaka is experiencing a significant increase in the prices of essential commodities, including onions, which have surged by 33%, due to a 40% duty on exports from India and increased domestic prices in India. This price hike is also affecting other commodities like rice, potatoes, and vegetables, with some items costing over Tk100 per kilogram. The high vegetable prices are further compounded by production disruptions due to recent floods and continuous rains. Poultry and egg prices have also increased, causing concern for consumers. Despite import permits issued for a large quantity of onions, only a fraction has been imported due to high import costs and risks of spoilage. The situation is expected to persist, with potential further increases in food prices over the next 2-3 months.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Onion prices in Dhaka have increased significantly in the past month, rising from Tk80-90 per kg to Tk110-120 per kg, a 33% increase. This increase coincides with a 40% duty imposed by India on onion exports and rising onion prices within India itself, according to onion importers and marketers. Prices of other commodities like rice, potato and vegetables have also remained high during the period, while dry spice prices have eased somewhat. Industry insiders attribute high vegetable prices to disruptions in production due to recent floods and continuous rains. A visit to Dhaka's kitchen markets on Friday found domestic and imported onions selling at Tk110-120 per kg, compared to Tk80-90 just a month ago. Wholesalers in Shyambazar and Karwan Bazar are selling domestic onions at Tk110 per kg, while Indian onions are priced at Tk100. Businessmen anticipate these prices to remain high for the foreseeable future. Abdul Majed, general secretary of the Shyambazar Onion Traders' ...

Source: TBS