Onion prices will come down in 10 days: Commerce Minister

After bringing onion from outside the country by airplane, it has no effect on the wholesale market. Onions are being sold at a higher price in the capital’s Shyamabazar. Commission agents complain that importers have raised prices due to excessive profits.

Meanwhile, the government has sought the information of the LC of importers from November 25 to capture the unstable onion market. Onion is being imported from different countries to add passenger and cargo aircraft to cut down onion supply crisis in the market. However, it did not have much effect on the market.

A visit to the capital’s Shyamabazar on Friday showed that onions sold at Tk 150-160 a kg on Friday stood at 175 Tk. Myanmar onions, on the other hand, increased by 10 Tk to 150 Tk and Pakistani onions were selling at Tk 175. Importers have raised the prices of onions in the hope of gaining profits.

A trader said, those importers increase prices only when there is less import, hoping to earn more. Meanwhile, the Commerce Minister assured at an event at the National Press Club that the onion market would return to normal within two weeks.

Commerce Minister Tipu Munshi said onions are expected to reduce onion prices within 7 days. We will increase our production, we will not be in any hope. Traders in Shyambazar complain that due to the strict supervision of the government, the market is not normal due to importers reducing onion imports.