DHAKA, – The onion price today witnessed a ‘big drop’ of Taka 40-50, per kg, from the earlier level of Taka 200, at the wholesale market while the retail price was found unchanged at city’s kitchen markets.

The wholesale price of the local variety onion now stands at Taka 160-170, per kg, reduced from the earlier level of Taka 200-220 and the imported Myanmar variety is selling at Taka 140-150, per kg from the earlier price of Taka 180-200 at the wholesale market in the city.

“The per unit price of both imported and local onion has reduced by Taka 40-50 from the earlier level of Taka 200-220 at the wholesale market at Shyambazar in the city,’ said Hazi Majed, General Secretary of onion Importers Association of Shyambazar area.

But the retail price of per kg onion was found still being sold at Taka 240 at the retail market in the city, said Milon, a retailer of city’s Mirpur area.

On Sunday, the wholesale price of per kg onion was sold at Taka 220, so we are selling it Taka 240 on Monday, said another retailer of Rupnagar area.

Meanwhile, Commerce Secretary Md Zafar Uddin on Monday assured that the onion market will soon become stable as effective measures have been taken by the government.

“On behalf of the government, I want to assure people that the price of onion will come down soon following the government’s effective steps,” he said in a statement released from his secretariat office here today.

Legal steps have been taken against 2,500 people for manipulating onion market, according to the statement.

Initiatives have been taken to import onions from Egypt, Turkey, and China via air cargo following the directives of the Prime Minister, he added.

As part of the initiative, he said cargo planes carrying the first consignment of onion from abroad will hopefully reach the country tomorrow.

Moreover, he said the local variety onion has already hit the market in different districts. The activities of state-owned Trading Corporation of Bangladesh (TCB) have been strengthened to tackle the adverse situation, he added.

Onion prices started rising after India banned its export in late September. The item’s price rose to more than Tk 250 per kg.

The onion prices become dearer as Myanmar has raised four-times the minimum export price (MEP) of the onion coupled with the severe cyclonic storm ‘Bulbul’ also intensified the onion price in last few days.

Zafar said the government has asked businessmen to import onions from other countries. “A huge amount of onion is being brought via sea,” he said.