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Onion from a shop in Karwan Bazar in the capital. File Photo: NTV
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Onion from a shop in Karwan Bazar in the capital. File Photo: NTV
The price of onion has risen by at least Tk 20 per kg in a day after India stopped exporting. The Ministry of Commerce is concerned about the market price of onion, which has suddenly become volatile.
The ministry is moving forward with three alternative steps to control the market. This was stated by senior ministry officials. An official, who spoke on condition of anonymity, told NTV Online: We are now moving forward with these three plans.
At the beginning of this month, the domestic onion price was Rs 35 / kg. Last week, it gradually increased from 55 to 56 rupees. Yesterday afternoon, India announced the cessation of onion exports to Bangladesh without notice.
People of all walks of life in the country are shocked by this announcement from India. Ministry of Commerce concerned. A senior official at the Ministry of Commerce told NTV Online: “Also last year, India abruptly stopped onion exports to Bangladesh without any prior announcement.” We have to go ahead with three new plans.
At a press conference on Thursday, Trade Minister Tipu Munshi said: “This year a record quantity of onions will be imported to maintain normal prices.” A letter has been issued to remove the 5 percent tariff on onion imports. Hopefully the duty will be withdrawn.
Regarding the government’s initiative to keep onion prices normal, the Trade Minister said that “TCB has started selling onions on the open market at a fair price on a large scale as of September 13. On the other hand I have also taken the initiative to import, and we hope that the onion market will return to normal.
Tipu Munshi said: “Last year also India stopped exporting onions to our country. Traders seized the opportunity. We import onions from the alternative market because India stopped exporting onions last time. It was a new experience for us. In this we have an alternative market. Due to the latest arrival of onions from Turkey, Egypt and Indonesia, our people have good communication again. We have also tendered imports from Turkey through TCB. I have written to the relevant ministry to reduce the tax on the import of onions.
Meanwhile, a senior official in the import branch of the Ministry of Commerce said that even in September last year, India stopped exporting onions to Bangladesh without any prior announcement. The price of onion rises to 300 rupees per kg. The official expressed deep surprise at India’s behavior.
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