The price of onion has gone up in the local markets despite 20 per export duty cut by India.
Bangladeshi importers blamed a syndicate of Indian traders behind this price manipulation. They complain that Indian traders are exporting onions at an additional price of at least Tk 15 per kg.
On September 13, Indian authority slashed onion’s export from 40 per cent to 20 percent and the export price of onion per ton was reduced from $550 to $405. Now importers of Bangladesh are importing onion at low duty. But it does not affect the market.
Sakhawat Hossain Shilpi, President of Hili Land Port Import Export Group, said that onion prices in India have increased by Tk15 per kg. As a result, prices of Indian imported onion have also gone up in Bangladesh.
Vice President of the Consumers Association of Bangladesh (CAB) SM Najer Hossain said the authorities should ensure that the benefit duty cut goes to all levels of markets. Apart from this, concerted efforts are needed to bring the prices of the products within the reach of the consumers.
Meanwhile, onion supply has increased in the city markets. Local and Indian onions are selling at the same price per kg in the wholesale market. Besides, it was selling at Tk110 per kg in the retail market.
