The price of onion will come down within two weeks, says Commerce Minister Tipu Munshi.
“Price of a number of essential commodities including onion, ginger and garlic are high due to the damage of crops during the monsoon. Besides, the import of onion, ginger and garlic was suspended from India and China,” he said on Tuesday (Jul 16).
Speaking to media after a meeting with deputy commissioners (DCs) at the Secretariat, the minister said, “Onion prices will drop in 15 days.”
The prices of onion doubled in Dhaka’s markets within a week, news agency UNB reports.
Although traders claimed it was due to short supply and inclement weather, which people blamed the unscrupulous traders for creating an artificial crisis ahead of Eid-ul-Azha for extra profits.
The local variety of onion was being sold at Tk 50-60 while the imported ones cost Tk 40-45 per kg in the capital.
A week ago, the local variety of onion cost Tk 30-35 and the imported ones Tk 20-25, traders said.
Speaking of the export, the minister said Bangladesh earned $46.37 billion 2018-19 fiscal -- a 5.39 percent higher than that of the set target for the given fiscal.
However, export growth were lower in lather and lather-processed and jute and jute-processed products.
The government has been providing traders with different incentives and assistances to increase the export earnings and ease the export business.