Bizdata Insights Main Logo

BizData Insights

Letter issued for onion imports

Industry: Agriculture & Livestock, Agro

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.

Source for more details:

Related News

Apex Foods Proposes Exporting Processed White Fish to Europe

February 18, 2024

Apex Foods Limited, a shrimp exporter in Chattogram, plans to enter the processed white fish market in Europe and Russia. They aim to import, process, and export white fish, seeking duty-free facilities from the government. Despite facing regulatory hurdles, a recent meeting initiated the formation of a technical committee to facilitate import approval.

Govt Plan to Establish National Plant Quarantine Authority

February 15, 2024

Bangladesh plans to establish a National Plant Quarantine Authority to enhance agricultural exports, aligning with WTO's SPS Agreement. Currently, it exports to 144 countries. In FY 2021-22, exports generated $1.16 billion, up by 13.04%, but decreased to $840 million in FY 2022-23. Notably, FY 2020-21 saw exports exceeding $1 billion for the first time.

Govt Issues Tk 2,357 Crore Bonds to Settle Fertiliser Importers’ Arrears

February 15, 2024

The Finance Division issued special bonds worth Tk 2,357 crore to clear arrears for fertilizer importers, following a previous batch of Tk 3,016 crore issued earlier. This move aims to settle outstanding payments to suppliers and power producers. The bonds, totaling Tk 26,000 crore, will gradually address these debts.

Banks Disburse Tk 18,326 Crore in Agricultural Loans

February 11, 2024

Banks disbursed Tk 18,326 crore in agricultural loans from July to December FY23-24, comprising over half of the fiscal year's target. The FY24 target is Tk 35,000 crore, 13.6% higher than the previous year. Recoveries totaled Tk 17,779 crore, surpassing the previous year.

iFarmer Partners with Chartered Life Insurance

February 10, 2024

iFarmer Limited has partnered with Chartered Life Insurance to provide insurance coverage for its permanent and contractual employees and their families. The agreement includes medical expense benefits for permanent employees, spouses, one child, and parents over 69 years old. Additionally, temporary employees will receive life insurance and hospital accommodation benefits per their contract.

Nahar Agro Set to Invest Tk150 Crore for Poultry Business

February 6, 2024

Nahar Agro, a Chattogram-based agro farm, plans to invest Tk150 crore to expand its poultry business and enter the egg market with around 10 lakh daily supply by 2025. The farm, which currently produces nearly 2.5 lakh hatching eggs a day, aims to fill the gap in production and reduce prices. The company aims to supply two lakh eggs per day by this year, increasing to 10 lakhs by next year. The expansion plan will create around 1,000 new jobs and produce 50-60 tonnes of environmentally friendly biofertilizer per day.

Related News

Apex Foods Proposes Exporting Processed White Fish to Europe

February 18, 2024

Apex Foods Limited, a shrimp exporter in Chattogram, plans to enter the processed white fish market in Europe and Russia. They aim to import, process, and export white fish, seeking duty-free facilities from the government. Despite facing regulatory hurdles, a recent meeting initiated the formation of a technical committee to facilitate import approval.

Govt Plan to Establish National Plant Quarantine Authority

February 15, 2024

Bangladesh plans to establish a National Plant Quarantine Authority to enhance agricultural exports, aligning with WTO's SPS Agreement. Currently, it exports to 144 countries. In FY 2021-22, exports generated $1.16 billion, up by 13.04%, but decreased to $840 million in FY 2022-23. Notably, FY 2020-21 saw exports exceeding $1 billion for the first time.

Govt Issues Tk 2,357 Crore Bonds to Settle Fertiliser Importers’ Arrears

February 15, 2024

The Finance Division issued special bonds worth Tk 2,357 crore to clear arrears for fertilizer importers, following a previous batch of Tk 3,016 crore issued earlier. This move aims to settle outstanding payments to suppliers and power producers. The bonds, totaling Tk 26,000 crore, will gradually address these debts.

Banks Disburse Tk 18,326 Crore in Agricultural Loans

February 11, 2024

Banks disbursed Tk 18,326 crore in agricultural loans from July to December FY23-24, comprising over half of the fiscal year's target. The FY24 target is Tk 35,000 crore, 13.6% higher than the previous year. Recoveries totaled Tk 17,779 crore, surpassing the previous year.

iFarmer Partners with Chartered Life Insurance

February 10, 2024

iFarmer Limited has partnered with Chartered Life Insurance to provide insurance coverage for its permanent and contractual employees and their families. The agreement includes medical expense benefits for permanent employees, spouses, one child, and parents over 69 years old. Additionally, temporary employees will receive life insurance and hospital accommodation benefits per their contract.

Nahar Agro Set to Invest Tk150 Crore for Poultry Business

February 6, 2024

Nahar Agro, a Chattogram-based agro farm, plans to invest Tk150 crore to expand its poultry business and enter the egg market with around 10 lakh daily supply by 2025. The farm, which currently produces nearly 2.5 lakh hatching eggs a day, aims to fill the gap in production and reduce prices. The company aims to supply two lakh eggs per day by this year, increasing to 10 lakhs by next year. The expansion plan will create around 1,000 new jobs and produce 50-60 tonnes of environmentally friendly biofertilizer per day.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here