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.
India increases the minimum export price of onion to $700 per tonne from $425 to restrict onion exports, prompting a further hike in its prices in Bangladesh.
Thieves stole 700 kilograms of onions from a wholesale trader in central Mumbai, police said, as a surge in prices triggers fears of a return to vegetable heists last seen two years ago.
