The Bangladesh government has decided to import onion from Turkey, Myanmar and China to increase supply in a bid to curb a price hike in the local market.
Commerce Secretary Mohammed Zafaruddin made the announcement on Tuesday (Sept 17) after a meeting with stakeholders at the ministry.
“Onion production was greatly damaged due to the flood at India’s Maharashtra. Hence their government has fixed the minimum export price of onions,” he said.
“He added that previously the import price was $250-$230 per tonne. However, the Indian authorities have fixed the prices at $850,” he added.
Onion prices have skyrocketed by Tk 25 per kilogram in the country's kitchen markets in a span of just 48 hours, which traders say was due to a supply crunch.
To check the price on the essential commodity, the Trading Corporation of Bangladesh (TCB), the government’s trading arm, have started open market sales (OMS) of onion in Dhaka from Tuesday.
Consumers will be able to buy two kg of onion each at Tk 45 per kg from trucks at five locations in the capital — in front of National Press Club, Motijheel, Khamarbari, Mohammadpur and Mirpur.
The commerce secretary said that authorities concerned including Bangladesh Bank, the inspector general of police and the ports have been written to in order to ensure lower the prices.