Pabna, Apr 24 (V7N)- Onion prices in Pabna, known as the onion capital of Bangladesh, have seen a significant surge recently. Over the past two weeks, wholesale onion prices have increased by Tk 600-700 per maund, leading to a Tk 20 per kg increase in the retail market.

Visits to wholesale and retail markets in Pabna on Wednesday morning revealed that onions were being sold at Tk 1,800-2,000 per maund in the wholesale market, compared to Tk 1,200 per maund two weeks prior. In the retail market, the price of onion per kg has jumped from Tk 30 last week to Tk 50 currently.

Wholesaler Ashraf Ali explained that the absence of Indian onions and the depletion of the early variety of chopped onions have significantly increased demand. He noted that the currently available fresh onions, typically stored for year-round use, are being purchased in larger quantities by consumers and traders alike, with some speculating on future price increases and storing onions in warehouses.

Retail onion seller Abdul Momin stated that his wholesale purchase price had increased to Tk 2,000 per maund, forcing him to sell at Tk 50 per kg, with a potential further increase to Tk 55 per kg to avoid losses.

Onion buyer Ariful Islam expressed concern over the sudden instability in the onion market, fearing further price hikes and accusing syndicates of hoarding onions to inflate prices, ultimately burdening the common people.

Jahangir Alam Pramanik, Deputy Director of the Pabna District Department of Agricultural Extension, reported that onion cultivation in Pabna this year exceeded the target, with 53,150 hectares cultivated and a production of 788,637 metric tons. He stated that there is a current stock of 375,150 metric tons. He attributed the recent price increase to the depletion of chopped onions, leading to higher demand for stored onions. He considered Tk 50 per kg a normal price that would benefit farmers, but cautioned against further increases that could destabilize the market. He assured that the district administration and the Consumer Affairs Department would work together to prevent hoarding syndicates.

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