Business Report: The Government of India has imposed a 40 percent duty on onion exports. After this announcement came on Saturday, the price of onion started increasing in the Bangladesh market. The price of this commodity has increased by up to 10 taka per kg in the capital Dhaka in just one day.
Imported Indian onions were sold at Tk 65 to Tk 70 per kg in various markets of the capital on Sunday (August 20), as against Tk 55 to Tk 60 per kg last Saturday.
Due to the increase in the price of imported onion, the price of domestic onion has also increased. Desi onion of good quality is being sold in the market at Tk 90 per kg, which was in the range of Tk 80 even a day ago.
Onion prices have increased not only in retail but also in Shyambazar, the capital’s biggest wholesale market. On Saturday, the price of imported onion was Tk 48 to Tk 50 per kg in the market, which was sold at Tk 53 to Tk 55 per kg on Sunday morning.
However, by evening, the price of the same onion was seen increasing from 56 to 58 taka. At the same time, the wholesale prices of local onion have increased by about 8 taka per kg and now it is being sold at 78 taka.
Meanwhile, onion prices are also rising in the country’s port sector following the news of the imposition of tariffs on India’s onion exports.
After the imposition of duty, the import of onion did not start at the new price, but in Jessore, the price of onion per kg has increased by 15 taka within a day.
Onion prices have also increased in Khatunganj of Chittagong, the largest wholesale market for consumer goods in the country.