In response to the significant price increase of onions in local markets, the commerce ministry has sent a letter to the agriculture ministry, urging them to issue import permits for onions. The letter highlights the rising retail prices of onions and emphasizes the need to stabilize the market by increasing its supply. To achieve this, the commerce ministry has requested the agriculture ministry to promptly consider granting permission for limited-scale onion imports. The price of onions has experienced a substantial surge in recent weeks.
The Trading Corporation of Bangladesh (TCB) data reveals that the cost per kilogram of onions has risen from Tk 30 a month ago to Tk 70-80 currently. Agriculture Minister stated that a decision regarding onion imports will be made within the next few days after closely monitoring the domestic market. The government is aware of the hardships faced by middle- and limited-income individuals and aims to prioritize the interests of local farmers. The authorities have been actively monitoring the market and are actively considering importing onions to alleviate the price surge. Government intervention in the agricultural sector has resulted in a significant increase in onion production, surpassing one million tonnes in the past two years. This year alone, over 3.4 million tonnes of onions have been produced in the country, while the annual demand ranges from 2.6 to 2.8 million tonnes.
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