Bangladesh’s government has launched a decisive action plan to import 52,000 metric tons of onions from India, a strategic response to the sharp increase in local market prices. This initiative follows India’s export ban on onions on December 7, which significantly impacted the cost of this essential kitchen staple.
The Commerce Ministry has already coordinated with the Bangladesh High Commission to accelerate the import process. Deputy commissioners are also engaged, tasked with ensuring onion prices stay reasonable within kitchen markets.
The price hike is linked to the recent export ban by India. Before this development, Bangladesh opened Letters of Credit for importing around 52,000 metric tons of onions from its neighbor. The government’s current focus is to advance these imports to alleviate the market pressure.
Speaking with BSS, Tapan Kanti Ghosh, Senior Secretary of the Commerce Ministry, shared insights into the government’s strategy. “We’ve taken various initiatives to keep the price of onion under control. Efforts are also on to increase the import of onion from alternate countries. Alongside these, the sale of onion will continue among the low-income group of people by the TCB,” he said. Ghosh emphasized the need for strict monitoring by deputy commissioners to ensure fair pricing.
Ghosh also called on the business community to show responsibility and refrain from exploiting the situation for profit. He criticized the swift and significant price jump as a direct consequence of unethical business practices.
During a seminar at the NBR Bhaban in Dhaka’s Agargaon on National VAT Day, Ghosh expressed disbelief at the overnight spike in onion prices, from Taka 120 to Taka 200 per KG, underscoring a breach of ethical trading.
Ghosh further mentioned that the Directorate of National Consumer Rights Protection (DNCRP) is conducting drives across the country to regulate the prices of essentials, including onions.
With this robust approach, combining efficient import measures and stringent local market regulation, the Bangladesh government is taking strong steps to stabilize essential goods like onions in the national market.
LATEST NEWS | Christmas Trade Chaos: Panama-Suez Canals Disrupt Global Supply
