The Bangladesh Trade and Tariff Commission (BTTC) has urged the government to significantly reduce tariffs on onions, potatoes, and eggs to bring down prices by boosting the supply of these essential items through imports
It is peak harvest season, but the price of onion has soared by Tk 10 per kilogram at the capital’s kitchen markets over the last three days.
The prospect of record high onion production is encouraging farmers to expand cultivation, according to the DAE
India's ban on the export of onions has driven up prices of the vegetable for Asian buyers, who are scrambling for cheaper alternatives, particularly as New Delhi is unlikely to lift the curbs before general elections next year.
The prices of onion have shot up despite adequate supply, according to a Bangladesh Trade and Tariff Commission (BTTC) report -- laying bare the extent of market manipulation by a section of dishonest traders.
DNCRP fined four traders in Chattogram Tk 40,000
Prices of onion increased by Tk 100 or more per kg overnight as traders began stockpiling following the news that India had extended a virtual restriction on its export.
Retailers were selling the homegrown variety of onion at Tk 200 a kg at Karwan Bazar today, compared with Tk 130 on Thursday
The government failed to enforce the price cap on onions and potatoes even for a single day since it issued the order about a month ago.
Prices of onions, potatoes, and eggs continue to remain unstable
The commerce ministry’s price cap on onions, potatoes, and eggs barely made an impact on the runaway prices as shopkeepers in the capital have not complied with the order.
The prices of onion fell by at least Tk 10 to Tk 15 per kilogramme (kg) in Dhaka's retail markets today, a day after the government allowed import of the cooking ingredient from India.
Commerce Minister Tipu Munshi says
The next stage of Bangladesh-India relations should involve long-term, innovative projects.
Farmers and agriculturists expect production of more than 9.67 lakh tonnes of onion from 79,985 hectares of land in the region including its vast Barind tract during the current rabi season.
With onion prices remaining high and unstable, consumers are bearing the brunt of high prices of essential foods, including vegetables, according to shoppers and market data.
Commerce Secretary Md Jafar Uddin says legal steps have been taken against 2,500 people for manipulating onion market.
Chairman of Parliamentary Standing Committee on Ministry of Commerce Tofail Ahmed says the onion price will become normal soon as around 50,000 tons imported onion is on the way from different countries.
Claiming that the hike in the onion price is a planned one by a syndicate, a consumer rights body urges the government to take immediate steps to arrest the skyrocketing price of the cooking ingredient.
