State Minister for Commerce Ahsanul Islam Titu said yesterday that the government will fix rice prices based on variety and seasonal production costs to combat price manipulation in domestic markets starting this Baishakh, the first month of the Bangla calendar.

"Already, a framework for fixing prices and production costs of rice, including at the miller, wholesale, and retail levels, has been formulated, and the food, agriculture, and commerce ministries will soon make an announcement in this regard following a meeting," Titu said.

Claiming that the government can keep the price of daily essentials at a tolerable level, he said, "We think that we will be able to keep the prices at a tolerable level till Eid-ul-Azha. Though there are some challenges, and you are all aware of them, the government is working on them."

The state minister made the comments at a press conference following a meeting with the stakeholders of the task force on prices of essential commodities at the commerce ministry.

Titu also mentioned that the first consignment of Indian onions is expected to arrive in Bangladesh tonight, and the essential vegetable will be sold at the retail level at Tk 40 per kg.

Bangladesh will import 50,000 tonnes of onions from India, as promised by its government. Of the volume, 1,650 tonnes will arrive in the first consignment via train. Within the next two days, it will start selling via appointed dealers in Dhaka and Chattogram through the open market sale of the Trading Corporation of Bangladesh (TCB).

Following the first consignment, the Indian government will supply the remaining onion when Bangladesh sends a letter of requirement.

The ministry had initiated the import of 50,000 tonnes of onions and 20,000 tonnes of sugar from India under a government-to-government arrangement.

The state minister said there is currently no need to import sugar from India because the market has a sufficient supply.

The TCB's sale of some essential goods may have a positive impact on the markets, as prices have recently fallen, he added.

Earlier, on March 15, the Department of Agricultural Marketing in a circular fixed the prices of 29 commodities, including red lentils, chickpeas, egg, onion, potato, broiler chicken and beef, and asked the traders of all levels to sell the items at the fixed prices.

The prices took effect immediately and will remain in force until further directives, said the circular.