Kazi Zahidul Hasan :
The Ministry of Commerce will discuss onion prices and its availability with all the stakeholders in a meeting next week amid soaring prices of the commodity in the market.
Prices of onions are rising daily in the city markets causing huge resentment to the consumers.
Onion prices have increased by Tk 15 to Tk 20 per kg in the past few days in the capital.
Traders blamed the sudden spurt in price on the incessant rain and high import rate of onions from India.
In Dhaka, per kg locally produced onion was selling at Tk 50-Tk 55 at retail level on Tuesday while per kg imported onion was selling at Tk 35 to Tk 40.
Per kg local onion was sold at Tk 30-Tk 35 while imported one Tk 25 last week.
“We will discuss the sudden onion price hike with traders in a meeting convened next week,” Commerce Secretary Md Mofizul Islam told The New Nation.
He said the government would take all-out measures to keep onion prices stable in the market.
“If necessary, onion import will be increased from alternative sources other than India to ensure adequate supply of the commodity in
the local market,” he said, adding, “Currently, most of Bangladesh’s onion import is covered from India.”
Md Mofizul Islam further said that the Ministry of Commerce might take a decision in this regard in its meeting with traders.
According to the sources from the Commerce Ministry, Bangladesh has an annual demand of 2,200,000 to 2,500,000 metric tons of onions. Last season, the country produced 1,750,000 metric tons of onions, while the deficit of around 700,000 metric tons was covered through imports, mainly from India.
Wholesale prices at Lasalgaon in Maharashtra, Asia’s largest wholesale market for onion, were shot up by 48 per cent in last month, reported Indian media.
Following a steady rise in domestic prices, the Indian government recently scrapped incentives on export of fresh and chilled onions to discourage overseas sales of the commodity.
The Ministry of Commerce will discuss onion prices and its availability with all the stakeholders in a meeting next week amid soaring prices of the commodity in the market.
Prices of onions are rising daily in the city markets causing huge resentment to the consumers.
Onion prices have increased by Tk 15 to Tk 20 per kg in the past few days in the capital.
Traders blamed the sudden spurt in price on the incessant rain and high import rate of onions from India.
In Dhaka, per kg locally produced onion was selling at Tk 50-Tk 55 at retail level on Tuesday while per kg imported onion was selling at Tk 35 to Tk 40.
Per kg local onion was sold at Tk 30-Tk 35 while imported one Tk 25 last week.
“We will discuss the sudden onion price hike with traders in a meeting convened next week,” Commerce Secretary Md Mofizul Islam told The New Nation.
He said the government would take all-out measures to keep onion prices stable in the market.
“If necessary, onion import will be increased from alternative sources other than India to ensure adequate supply of the commodity in
the local market,” he said, adding, “Currently, most of Bangladesh’s onion import is covered from India.”
Md Mofizul Islam further said that the Ministry of Commerce might take a decision in this regard in its meeting with traders.
According to the sources from the Commerce Ministry, Bangladesh has an annual demand of 2,200,000 to 2,500,000 metric tons of onions. Last season, the country produced 1,750,000 metric tons of onions, while the deficit of around 700,000 metric tons was covered through imports, mainly from India.
Wholesale prices at Lasalgaon in Maharashtra, Asia’s largest wholesale market for onion, were shot up by 48 per cent in last month, reported Indian media.
Following a steady rise in domestic prices, the Indian government recently scrapped incentives on export of fresh and chilled onions to discourage overseas sales of the commodity.
