Onions are being sold at high prices in the country’s market for a long time. Every year during the month of Ramadan, the demand for onion is much higher than any other time. In such a context, the market stakeholders fear that the price of onion will increase further in the coming Ramadan. In this situation, the government wants to import 50,000 tons of onions from India before fasting to keep the market supply and prices normal during the upcoming Ramadan.
India will export this onion to Bangladesh under the bilateral agreement. The official paper regarding import-export of this onion can be available this week itself. Ministry of Commerce wants to bring onion from India to Bangladesh within 3 days of getting official paper. As a result, Indian onion may come to the country’s market in the next week, i.e. in the first week of March.
Ministry of Commerce is working towards this goal. In the meantime, the officials of the ministry have made the necessary preparations, according to the relevant sources. State Minister for Commerce Ahsanul Islam Titu confirmed to Jago News that 50,000 tons of onions from India will arrive in Bangladesh before fasting.
Recently there were rumors that onions will not come from India. This is completely rumour. There is no doubt about the import of 50 thousand tons of onion from India.
According to the relevant sources of the Ministry of Commerce, the issue of arrival of 50 thousand tons of onion from India is in the final stage. In the meantime, the government of India has given policy approval for the export of this onion. The official paper will arrive in three to four days. This onion will come to the country before fasting through bilateral agreement.
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Sources also said that recently there were rumors that onions would not come from India. This is completely rumour. There is no doubt about the import of 50 thousand tons of onion from India.
An official of the Ministry of Commerce said that the import of 50,000 tons of onion from India is almost at the final stage, but the official paper has not been received yet. It is expected that the official paper will come this week itself. After getting the official papers it won’t take long to import onions from India. It is possible to bring onions from India within three to four days.
He said, we have no doubt about getting onion from India. I have made all kinds of preparations. Indian onions will arrive in Bangladesh before fasting. We are expecting the onions to arrive from India in the first week of March after completing all the procedures.
When contacted, State Minister for Commerce Ahsanul Islam Titu told Jago News, ‘Indian onions are 100% certain to come to Bangladesh. The documentation will be completed within two to three days. Inshallah we can bring onions from India before fasting.’
Last August, the country’s government imposed a 40 percent tariff on onion exports to keep supply to the Indian market normal. Then last October, the minimum export price of onion was set at 800 US dollars per ton.
He said, ‘Onions will arrive from India before fasting. They said they will send onions to the border within three days after receiving the paper. Their farmers are not getting the price of onion. 20 to 25 rupees per kg of onion in Nashik (area of Maharashtra, India).’
Last August, the country’s government imposed a 40 percent tariff on onion exports to keep supply to the Indian market normal. Then last October, the minimum export price of onion was set at 800 US dollars per ton. But since these measures were not very effective, the Indian government completely stopped onion export on December 7.
India’s Directorate General of Foreign Trade or the Office of the Director General of Foreign Trade has imposed a ban on onion exports until March 31 of this year. After this ban by India, the price of onion in the Bangladesh market has suddenly increased.
In this situation, the Minister of State for Commerce of Bangladesh Ahsanul Islam Titu spoke on the phone on January 24 with the Minister of Commerce, Industry, Textiles and Consumer Goods and Food and Mass Distribution Piyush Goyal. At this time, Ahsanul Islam Titu requested the Commerce Minister of India to take steps to supply 100,000 tons of sugar and 50,000 tons of onions.
Retailers have no hand in increasing the price of onion, nor profit. We sell onion based on the price we buy from the wholesale market. If the wholesale price increases, we are bound to increase the price.
After that, according to the Economic Times, India has not completely lifted the ban on onion exports. However, the country will export limited quantities of onions based on bilateral relations.
Read more
• Indian onion will enter the market before fasting
• India allowed onion export to Bangladesh
• India has given in-principle consent to supply onions to Bangladesh
It is also said in that news that the exact quantity of onions that the Indian government will export has not yet been confirmed. Economic Times could not tell when this export process will start.
Meanwhile, State Minister Ahsanul Islam Titu told reporters after the Taxforce meeting on ‘Review of Commodity Prices and Market Situation’ held at the Ministry of Commerce on February 20, the processes we have taken to import onion and sugar from India, the government of India has given its consent in principle regarding onions. Now we will take steps so that onions can reach Bangladesh as soon as we get the official paper.
However, a report in the Economic Times on February 22 said that India is not raising the 20 percent duty on rice exports and the export of onions to the private sector will be stopped. According to the news, the Modi government had imposed a ban on the export of onions till March 31 this year. Last Tuesday (February 21) they made it clear again that there is no question of bringing that time forward, rather the ban may be extended further.
After this news, rumors spread that India will not give onions to Bangladesh. This increases the price of onion in the Bangladesh market. In the last three days, the retail price of onion has increased by Tk 20 per kg in the country’s market. At the retail level, chopped onions are being sold at Tk 120 to Tk 130 per kg. Which was 100 to 110 taka last February 20.
About the price of onions Malibagh Hajipara businessman Md. Jahangir said, ‘There is no Indian onion in the market now. After India stopped exporting onions, the prices in our market increased. In one jump from 70 taka to 100 taka per kg of onion. Then I heard that India will give onions. But I have been hearing for two days that India will not supply onions, which has increased the price again. In the last two days, the price of onion has increased by Tk 20 per kg.
Khairul Hossain, a businessman from Khilgaon, said almost the same thing. He told Jago News, ‘After India stopped exporting onion, the price of onion increased. Then it was heard that India will give 50 thousand tons of onions to Bangladesh. The price of onion remained stable for two days. But now I hear again that India has maintained the ban on onion exports. The price has increased by another 20 rupees.
He said, ‘retail traders have no hand in increasing the price of onion, and there is no profit. We sell onion based on the price we buy from the wholesale market. If the wholesale price increases, we are bound to increase the price. Again, if we can buy at a lower price from the wholesale market, we sell at a lower price.’
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