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Update: 17 September, 2019 19:56 PM
Onion price to go down in 24 hrs: BTC member

Onion price to go down in 24 hrs: BTC member

Kalerkantho

Bangladesh Tariff Commission (BTC) has assured that the prices of onion will go down in 24 hours as the government has ensured adequate supply in the market.

BTC member Md Abu Raihan Alberuni said this while he was replying to the queries of journalists after a press conference at the commerce ministry today. 

He said: "Bangladesh had imported onion from Myanmar in 2014 and 2017 to lower the prices of onion in the local market and this time we also have recommended for lowering the LC (Letters of Credit) margin for the onion importers from Myanmar."

"Bangladesh Bank has also been asked to reduce the interest rate on onion import. So, I can assure you that the prices of onion will come down within the next 24 hours, " he added.

The Indian authority slapped $850 (Tk 71,821) as minimum export price for per tonne of onion on September 13, a move that made onion market highly volatile here as Bangladesh meets a portion of its annual demand for the onion through imports for inadequate domestic production.

Retail prices of onion shot up to Tk 20-25 per kg for last two days. It is now being sold at Tk 70-75 per kg while the Indian variety at Tk 60. The price of local onion was Taka 50-55 per kg while the Indian variety Tk 45-50 per kg in last Thursday at the city markets.

In such circumstance, the Commerce Ministry today held a meeting with the onion traders, importers and wholesalers to discuss the measures to bring down the skyrocketing prices of onion in the local markets.

To contain the soaring onion price, the Ministry of Commerce already has instructed the TCB to sell the onion at a subsidized rate in the city. 

সম্পাদক : ইমদাদুল হক মিলন,
নির্বাহী সম্পাদক : মোস্তফা কামাল,
ইস্ট ওয়েস্ট মিডিয়া গ্রুপ লিমিটেডের পক্ষে ময়নাল হোসেন চৌধুরী কর্তৃক প্লট-৩৭১/এ, ব্লক-ডি, বসুন্ধরা, বারিধারা থেকে প্রকাশিত এবং প্লট-সি/৫২, ব্লক-কে, বসুন্ধরা, খিলক্ষেত, বাড্ডা, ঢাকা-১২২৯ থেকে মুদ্রিত।
বার্তা ও সম্পাদকীয় বিভাগ : বসুন্ধরা আবাসিক এলাকা, প্লট-৩৭১/এ, ব্লক-ডি, বারিধারা, ঢাকা-১২২৯। পিএবিএক্স : ০২৮৪০২৩৭২-৭৫, ফ্যাক্স : ৮৪০২৩৬৮-৯, বিজ্ঞাপন ফোন : ৮১৫৮০১২, ৮৪০২০৪৮, বিজ্ঞাপন ফ্যাক্স : ৮১৫৮৮৬২, ৮৪০২০৪৭। E-mail : [email protected]