There is unrest in the onion market and since India has stopped exporting onions, the price has risen abnormally. Due to the impact of cyclone Bulbul, the price of all kinds of rice has also seen a surge. A few intelligence agencies have begun to trace those responsible for the abnormal price hike.
The issue of market price has been discussed in parliament and the government is keeping an eye on the market. The effort to sell onions through Trading Corporation of Bangladesh (TCB) hasn’t worked either.
Sources say that intelligence agencies will look into onion imports and possible market manipulation by cartels.
They will also check if anyone is hoarding local onions.
An additional secretary of the home ministry said: “Investigation is underway to find if anyone is trying to create unrest in the market and a team from the ministry is working on the matter.”
Home Minister Asaduzzaman Khan observed: “This is not a new incident; detectives can help the government for any important purpose.”
Meanwhile, the ministry of commerce has said that legal steps will be taken against people trying to earn excess profits by hoarding onions. At present, 31 teams of the ministry are working to monitor markets.
The price of all kinds of rice has risen by Tk 5 to Tk 6 per kg, as some people used the cyclone bulbul as an excuse. The price of Soybean and sugar has also risen.
The price of fish, eggs and vegetables is also on the rise. Buyers feel that traders are taking advantage of the Indian ban on exports to raise the price.
Regarding the price rise of rice, general secretary of Bangladesh husking Rice Mills Owners’ Association, Layek Ali said: “Due to supply deficit, the price may rise; due to rain, many rice carrying trucks did not leave north Bengal but this crisis is temporary.”
In India, onion harvest was affected by floods in Maharashtra and other areas and so the country imposed an export embargo on onions on Sept 29.