Onion prices are falling

Dhaka: The price of onion has started to fall in the market due to various measures taken by the government. Onions have been imported from different countries urgently.

In no time enough onions will arrive in the country. In a month, the onion market situation will return to normal. At the same time, marketing campaigns have been intensified under the leadership of local administrations across the country, including the National Department of Consumer Protection.

This was reported in a press release from the Ministry of Commerce on Thursday (September 18). It was said that in order to maintain the normal price and supply of onions in the country, onions are sold at a price of 30 Tk per kg throughout the country, including important places in Dhaka city, through the Trading Corporation of Bangladesh (TCB). This will have a positive effect on the price of onions. The onion sale, which began on September 13, will continue until March next year.

The Ministry of Commerce has been said to have taken the initiative to import and sell onions on a large scale through TCB. In particular, TCB will now sell onions through e-commerce. If attempts are made to increase the price of onions by creating illegal storage or an artificial crisis, the government will crack down on them under existing law.

Wholesale prices for onions, which have nearly doubled, are known to have started to decline after India announced a sudden cessation of onion exports. However, it has no effect on the retail market.

Wholesalers say that the price has dropped to Rs 5 per kg due to the introduction of fresh onions to the market. However, no information is known about the retail trade. And retailers say they buy onions at higher prices from wholesalers. If you get a lower price there, the retail price will go down as well.

Bangladesh time: 1801 hours, September 18, 2020
GCG / TA