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When India suddenly stopped exporting onions, the country’s onion market became unstable within a few hours. The price of onion from Rs 50 to Rs 60 goes up to Rs 110. However, according to the Ministry of Commerce, the country currently has at least six lakh metric tons of onions in stock. But unscrupulous traders have raised prices by capitalizing on India’s exports to create an artificial crisis. For this reason, the government has closely watched the four districts of the country to find these opportunistic unions.
A senior Trade Ministry official, who did not want to be named, told Jago News: “Onion prices have skyrocketed in the country’s market since early September after learning of the price hike from India.” Prices also went up in September last year. So from the beginning, the Ministry of Commerce was active in raising the price of onion. For this reason, several teams from the Ministry of Commerce traveled to different parts of the country to find out the general situation of onion stocks. These teams can find out from intelligence and field inspection sources that at least six lakh of metric tons of onions are stored in four districts of Pabna, Faridpur, Rajbari and Manikganj.
He said: “According to information on onion production, import and demand in the country, the country currently has a stock of more than six lakh metric tons of onions.” But trade unions in these districts have destabilized the market by capitalizing on India’s export embargo and creating an artificial crisis. These rogue merchants did the same thing last year.
He added: “But this time the preparation base has already been prepared and the stock base information has been obtained from four districts. Meanwhile, law enforcement and intelligence surveillance in these districts has intensified. The Ministry of Commerce team will meet with the deputy district commissioners and the locals. So there is no way that traders can create an artificial crisis by storing onions.
Meanwhile, TCB is already selling onions at only 30 Tk / kg per truck to control the onion market. In addition, the government agency has also started selling onions online at 38 Tk / kg. The government has also lifted the 5 percent tariff on onion imports from India, Turkey, China, Myanmar and other countries to increase imports.
As a result of these government initiatives, the price of onions has also dropped a bit. Last Monday (September 14), India suddenly stopped exporting onions to Bangladesh. As a result, the price of onion became volatile in the country’s market. The national onion price of Rs 80 rose to Rs 110 on Tuesday. The wholesale price of onions has increased from 50 to 75 tk per kg. Some wholesalers also sell onions for Rs 90 per kg. Panicked by rising prices, consumers rushed to buy additional onions.
Then on Thursday there was a buyer crisis in the onion market. As a result, the price of onions decreased in the wholesale market. On Thursday and Friday, the onion price dropped to Tk 6 per kg in two phases. Faced with this situation, the news comes that before the ban, India has given permission to deliver 25 thousand tons of onions to Bangladesh. This further reduced the prices of domestic and imported onions on Saturdays and Sundays.
However, from Sunday news began to arrive that most of the onions from India had been wasted. After that, the domestic onion price rose again in the wholesale market on Monday. However, the prices of imported Indian onions have remained stable.
According to a search by Shyambazar, the largest onion wholesale market in the capital, a kilo of domestic onion sells for Rs 60-72, which was Rs 75-80 the day before. On the other hand, imported Indian onions are sold for between Rs 50-55 / kg. However, some traders sell wasted onions at 40 Tk per kg.
On the other hand, looking at various retail markets, it has been seen that on Monday, like the last two days, a kilo of national onion was sold for between 80 and 90 rupees. Imported Indian onions are sold for Rs 60-70.
When asked about the general onion situation, Trade Minister Tipu Munshi told Jago News that India’s sudden halt in onion exports to Bangladesh without any forecast has created instability in the country’s market. . However, unscrupulous traders are taking advantage of the fact that ordinary people buy more onions than they need. There is nothing to panic about. The country has adequate stocks of onions. With this reserve, you can go blind for the next two and a half to three months. The importation of onions has also started from the alternative market. So he advised buyers not to buy more onions than they need.
According to the Ministry of Commerce, the country has an annual demand of around 2.5 million tons of onions. This year there has been more. However, 20 to 25 percent is lost in collection and storage. As a result, the actual production is more than 19 thousand tons. The rest is imported. 90 to 95 percent come from India.
The Commerce Ministry says a union has worked to destabilize the country’s onion market. There is a class of dishonest businessmen associated with this union. Those who have created artificial crises have abnormally raised the price of onions overnight. The unnecessary increase in the price of onion has caused misery to the common man. Ashamed of the government. This cycle did the same last year. Due to which the onion price went up to Rs 300 per kg last year.
It was learned that the members of four government intelligence agencies are going to the field together to search for the members of these opportunistic unions. The four intelligence agencies will do the job together. Although they usually work on market monitoring, this time the context is different. They are known to have been assigned some additional responsibilities.
According to sources from the Ministry of Commerce, they have already received various information about union members causing instability in the onion market. To verify this information, they are searching more extensively in different regions and markets of the country. The information collected by them has reached the interested sectors of the government. It is known that the neighborhoods concerned will take the necessary action on the basis of this information.
MUH / BA / JIM
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