Following the government’s approval of onion imports from India, onion prices experienced a significant decline in various regions of Bangladesh. The Trading Corporation of Bangladesh reported that the local variety of onion was being sold at Tk 80 to Tk 90 per kilogram on Monday, marking a Tk 10 decrease compared to the previous day. Over the past month, prices of the local onion variety had risen by 81%, leading the agriculture ministry to allow imports to stabilize the volatile market. However the Director General of the Directorate of National Consumers Rights Protection (DNCRP), claimed that a group of traders had manipulated the market for higher profits.
Farmers in Pabna, a major onion-producing area, accused wholesalers in Dhaka, Chattogram, and Sylhet of being responsible for the unstable onion market, asserting that they control wholesale prices and manipulate the market. The government aims to continue imports until the onion market stabilizes, with the goal of reducing prices to Tk 50 per kilogram. Wholesale traders in Dhaka, Pabna, and Chattogram reported a decrease in onion prices following the announcement of imports. The government has approved 210 import permits for 280,800 tonnes of onions. Despite domestic production being around 34 lakh tonnes, the country still needs to import around 6.50 lakh tonnes of onions due to storage limitations and waste.
Source for more details:
