bdnews24.com :
The Indian authorities have raised the minimum export price of onions to $300 per tonne to stabilize the price in internal markets.
A press release from Indian commerce ministry on Tuesday announced the decision.
Local importers, however, are saying that Bangladesh’s markets will not be affected by the decision as there are sufficient reserves.
India’s new government is putting a lot of emphasis on controlling the prices of essentials, in light of high inflation during the Congress-led government’s term that caused much frustration among the people.
In March, the Indian government withdrew a minimum price for onions, $150 per tonne.
Kartik Chakrabarty, the secretary of Petrapole LC Station C&F Staff Welfare Association, said the station had received a directive from the National Cooperative Marketing Federation of India about the minimum onion price.
“The prices of onions and potatoes have gone up in Indian markets. The price has been raised to discourage exports,” he said.
“There’s been a crisis of onions in India since last month. Even the arrival of fresh onions from South India didn’t help.”
Tuhin Saha, the manager of Ahmed Enterprise, an importer in Jessore, said the price of onion would be stable for at least a month in the country as there was sufficient supply of local onions.
He said local onions, which were selling at Tk 28 per kg, would be in the market for another month.
Milton Saha, an importer from Khulna, said Indian onions were selling at Tk 22 in the country, while the import costs were Tk 19-20.
“In this situation, importing onion at new prices will be a loss,” he said.
Benapole Customs Joint Commissioner Syed Atikur Rahman said onion imports from India had declined from the last year.
“There’s enough local onion in the markets right now. Onion importers have cut back on volume because there is no demand,” he said.
