Bizdata Insights Main Logo

Onion price getting beyond reach

Industry: Commodity, Consumer & Retail

The cost of onions, a vital ingredient in numerous dishes, has surged to as high as Tk 90 per kg in kitchen markets across the capital, representing a Tk 25 increase from the previous week. This escalation in onion prices is adding to the burden already faced by consumers, who are grappling with rising commodity prices and high inflation, making their lives even more challenging. In addition to onions, the prices of other essential items like ginger, garlic, green chili, and potatoes have also risen. Almost all vegetables, except potatoes, are now priced above Tk 60 per kg.

The wholesale prices of imported commodities have been increasing due to restrictions on onion imports and the depreciation of the taka against the dollar. Despite the government’s announcements, prices of onions, garlic, ginger, and sugar have not decreased. The Consumer Association of Bangladesh (CAB) has called for strengthened market monitoring and action against unscrupulous traders. The situation is further compounded by the high prices of other essential commodities such as edible oil, chickpeas, and flour. The government may allow onion imports soon, but the suffering of consumers persists.

Source for more details:

Related News

Prices falling globally but not locally

June 4, 2023

According to the Bangladesh Trade and Tariff Commission (BTTC), the price of crude soybean oil in Argentina has experienced a significant decline in the global market. On May 31, it was recorded at 847 US dollars per ton, compared to 1,970 dollars one year ago, indicating a decrease of approximately 57 percent. However, this decline in prices has not translated into benefits for consumers within the country.

Bashundhara launched consumer sales campaign

June 3, 2023

Bashundhara Group has launched a consumer sales campaign in honor of the religious festival Eid-ul-Adha. The company aims to provide affordable prices to customers throughout the month of June. According to a press release, various products including oil, flour, powdered spices, and chapati will be sold through mobile trucks in eight major cities across Bangladesh. The campaign was officially inaugurated on June 1st at TCB Bhawan and Secretariat Bhawan in the capital city.

Commodity prices to decline next year

June 3, 2023

During a post-budget press conference, Agriculture Minister expressed optimism that commodity prices would decrease in the next fiscal year as international prices have already begun to decline. He mentioned that fuel prices have dropped in the global market, and other goods are also experiencing downward trends. The government aims to support low-income individuals, such as rickshaw and van pullers, in maintaining their living standards.

Imported fruits to get costly

June 3, 2023

In the upcoming fiscal year 2023-24, the prices of imported fruits, including nuts, dates, and edible plant parts, are expected to rise as the government plans to impose import duties on these goods. Finance Minister proposed a 15% Value Added Tax (VAT) on the imports of shelled cashew nuts and a 15% Custom Duty (CD) on the imports of fruits. Currently, there are no such duties on these items. The import costs of fresh and dried dates may also increase, as the government plans to impose a 15% VAT and a 15-25% CD on essential fruits.

E-cigarette will be costlier

June 3, 2023

The government has introduced supplementary duties on e-cigarettes and similar personal electric vaporizing devices, along with their parts, for the fiscal year 2023-24. This move will result in increased costs for consumers of these luxury products. Finance Minister stated that a 150% supplementary duty will be imposed on tobacco products such as liquid nicotine and transdermal-use nicotine during the import stage. The objective behind this measure is to discourage the usage of these products due to their detrimental effects on health.

Agora opens new outlet in Sylhet

June 3, 2023

A new outlet of Agora was opened on June 1st at Sylhet Upashahar Level 1 (East), Syed Plaza, Plot-1, Block-D, Multiplan Shahjalal City, Shahjalal Housing State (Upashahar), Sylhet. The launching event was graced by the presence of Sylhet City Corporation Mayor Ariful Haque Choudhury as the chief guest, as stated in a press release.

Related News

Prices falling globally but not locally

June 4, 2023

According to the Bangladesh Trade and Tariff Commission (BTTC), the price of crude soybean oil in Argentina has experienced a significant decline in the global market. On May 31, it was recorded at 847 US dollars per ton, compared to 1,970 dollars one year ago, indicating a decrease of approximately 57 percent. However, this decline in prices has not translated into benefits for consumers within the country.

Bashundhara launched consumer sales campaign

June 3, 2023

Bashundhara Group has launched a consumer sales campaign in honor of the religious festival Eid-ul-Adha. The company aims to provide affordable prices to customers throughout the month of June. According to a press release, various products including oil, flour, powdered spices, and chapati will be sold through mobile trucks in eight major cities across Bangladesh. The campaign was officially inaugurated on June 1st at TCB Bhawan and Secretariat Bhawan in the capital city.

Commodity prices to decline next year

June 3, 2023

During a post-budget press conference, Agriculture Minister expressed optimism that commodity prices would decrease in the next fiscal year as international prices have already begun to decline. He mentioned that fuel prices have dropped in the global market, and other goods are also experiencing downward trends. The government aims to support low-income individuals, such as rickshaw and van pullers, in maintaining their living standards.

Imported fruits to get costly

June 3, 2023

In the upcoming fiscal year 2023-24, the prices of imported fruits, including nuts, dates, and edible plant parts, are expected to rise as the government plans to impose import duties on these goods. Finance Minister proposed a 15% Value Added Tax (VAT) on the imports of shelled cashew nuts and a 15% Custom Duty (CD) on the imports of fruits. Currently, there are no such duties on these items. The import costs of fresh and dried dates may also increase, as the government plans to impose a 15% VAT and a 15-25% CD on essential fruits.

E-cigarette will be costlier

June 3, 2023

The government has introduced supplementary duties on e-cigarettes and similar personal electric vaporizing devices, along with their parts, for the fiscal year 2023-24. This move will result in increased costs for consumers of these luxury products. Finance Minister stated that a 150% supplementary duty will be imposed on tobacco products such as liquid nicotine and transdermal-use nicotine during the import stage. The objective behind this measure is to discourage the usage of these products due to their detrimental effects on health.

Agora opens new outlet in Sylhet

June 3, 2023

A new outlet of Agora was opened on June 1st at Sylhet Upashahar Level 1 (East), Syed Plaza, Plot-1, Block-D, Multiplan Shahjalal City, Shahjalal Housing State (Upashahar), Sylhet. The launching event was graced by the presence of Sylhet City Corporation Mayor Ariful Haque Choudhury as the chief guest, as stated in a press release.

Shopping cart

0
image/svg+xml

No products in the cart.

Continue Shopping

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here