He noted that importers from border areas, particularly those with strong ties to Indian traders, dominate the onion trade.

Ahsan suggested that the government could dismantle this alleged syndicate if it so desired.

Rafiq, general secretary of the association, pointed out the lack of autonomy in the trade, citing instances where importers dictated the sale of onions.

Even after receiving 200 sacks of onions, importers reportedly instructed local traders to sell 150 sacks at higher prices after selling the initial 50. The local traders feel compelled to comply with the importers' directives, earning only a commission for their role, he said.

Jahangir Alam, president of the association, expressed concern about the dominance of a few major traders, asserting that the import of products, including onions, is monopolized.

“Not everyone gets equal opportunity from the bank. Common traders cannot open LCs (letters of credit); rather, they are discouraged from importing due to various reasons, including the dollar crisis. But those who have good relations are able to import without any margin,” he added.

Jahangir Alam urged for equal opportunities in trade, saying that if all traders could operate on a level playing field, there would be no scarcity of goods and prices would not skyrocket suddenly.

In response to the escalating onion prices, Chittagong Deputy Commissioner (DC) Abul Bashar Mohammed Fakhruzzaman said that the issue of market control by importers would be formally reported to the Ministry of Commerce.

“Goods are being traded without DO (delivery order), hence the cost is increasing in the supply chain process. I will not allow it in any way,” the Chittagong DC said.

On Monday, the wholesale market in Chaktai-Khatunganj witnessed Indian onions being sold at Tk190 to Tk200 per kg, while larger Chinese onions were priced at Tk120 to Tk130.

India banned the export of onions to other countries effective Friday, according to a notification issued by the Indian Ministry of Commerce and Industry on Friday.

The prices of onions nearly doubled across Bangladesh shortly after India banned their exports until March 31 next year.

However, following the authorities running mobile courts across the country, prices cool down a bit.

Director General of the Directorate of National Consumer Rights Protection AHM Shafiquzzaman on Monday said the onion market is expected to stabilize within the next week.