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The 5 percent import duty will be withdrawn: Ministry of Commerce
The wholesale market has weakened somewhat as a result of the government’s initiative to import onions from different countries with strict market surveillance.
The wholesale price of onion in the capital’s Shyambazar and Kawran Bazar has dropped from Tk 5 to Tk 10 on Thursday. However, it had no effect on the retail market. Onions are sold at the same high prices as before.
Onion importers said that 12,000 to 15,000 tonnes of onions caught at the Indian border at Hili land port in Dinajpur, Benapole land port in Jessore, Darshana international rail port and Bhomra land port in Satkhira could be released by India at any time.
Trade Minister Tipu Munshi also told reporters at the Secretariat yesterday that he had spoken with the High Commissioner of India. In a day or two, the problem of onions stuck to the edge will be solved. As a result, there is a slight weakening in the wholesale market.
Yesterday the wholesale price of domestic onion was Rs 430 per bale (five kg) at Kawran Bazaar. As a result, the price of one kg is Rs 6. The wholesale price for imported onion was Rs 310-320. The price per kg falls from 72 to 83 rupees. But even a day ago, the price of domestic onion was 480 to 500 rupees and the price of imported onion was 350 to 380 rupees. However, onions are sold at higher prices on the retail market even though prices have dropped on the wholesale market.
Yesterday, domestic onions were sold between Rs 100-110 per kg and imported onions between Rs 60-65 per kg. In this context, retailers said that they buy from the wholesale market at a higher price, so they have to sell at a higher price. If the price drops, we will also sell onions at a lower price.
Onion importer Morshedur Rahman told Ittefaq yesterday: “I heard that the onions stuck on the border with India will be released.” But it must be done quickly. Because the onions are rotting. He said that the market will be a little softer if this onion enters the country.
In response to a question, he said that there is still a large stock of domestically produced onions. If this onion can be brought to market, consumers will not have to buy onion at such a high price. It is worth mentioning that on September 14, India stopped exporting onions without prior notice, which caused instability in the onion market in the country.
Buyers were seen lining up in the capital yesterday to buy TCB onions. To keep the market stable, the government marketing agency has started selling onions at 30 Tk per kg across the country. The sale will continue until March next year, said the commerce minister. At the same time, TCB will import and sell onions directly from different countries.
Ittefaq / ZH
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