Onion
No new import permit for onion through Hili land port after March 15
Importers are suspecting that onion price in the country may go up during Ramadan, as the government of Bangladesh has decided to not issue new permits for importing Indian onions after March 15 through the Hili land port -- to ensure local farmers get a fair price.
“Large consignments of onions are being imported now through Hili land port to keep prices stable during Ramadan. But the government decided to not issue new onion import permits from India, which may make the onion market unstable,” Senior Vice President of Hili Land Port Import-Export Group Shahidul Islam said while speaking at a press conference on Monday (March 14, 2023) night.
Read More: Onion imports through Benapole resume after 2 months
If onion imports stop after March 15, importers will suffer financially. Consumers also have to buy onions at higher prices during Ramadan, he added.
Mostafizur Rahman, general secretary of the organization, said that it is necessary to continue importing onions throughout the month of Ramadan and keep the prices stable.
Currently, imported onions are being sold at Tk 24 and domestic onions at Tk 26 per kg at retail level.
Read More: Magura onion farmers in tears as prices plummet
Onion imports through Benapole resume after 2 months
Bangladeshi traders have started to import onions from India through Benapole Land Port after a restriction of two months.
The import cost per kg of onion is Tk34. The cooking essential is being sold at the market at Tk36 per kg.
Importers said the prices of onions will drop further as the import volume goes up.
Read: Magura onion farmers in tears as prices plummet
Bangladesh imported 117 metric tonnes of onions from India Thursday afternoon.
Shamim Gazi, an importer of Benapole, said: "My company imported 117 metric tonnes of onions from India as the government had allowed us to do so."
Benapole Port Deputy Director Abdul Jalil said now the port is open 24 hours for quick unloading of the imported onions.
Magura onion farmers in tears as prices plummet
Strange as it may seem, but a bumper harvest has left many onion farmers in Magura in tears. Forget profit, they are struggling to recover even their production cost this year.
Falling prices of the kitchen staple across Bangladesh are forcing these poor farmers to go for distress sales in the absence of any warehousing option that helps prevent a price collapse in case of a bumper yield.
An essential part of the diets of millions of Bangladeshis, rich and poor, onions add flavour and texture to every meal. Besides, the pungent bulb is a rich source of key daily nutrients.
Also read: Kushtia onion farmers struggle with production cost amid falling price
Every year, Bangladesh witnesses onion crises. However, this year, farmers in Magura are facing a problem of plenty -- basically more supplies and less demand.
Jashore may wipe away Bangladesh's onion tears this year
Onion growers in Jashore are busy rearing their fields these days, hoping to make a killing with a record harvest this year.
An essential part of the diets of millions of Bangladeshis, rich and poor, the kitchen staple adds flavour and texture to every meal. Besides, the pungent bulb is a rich source of key daily nutrients.
Every year, Bangladesh witnesses onion crises. In October 2020, for instance, the country saw a record hike in onion prices after neighbouring India banned its export.
However, this year, Jashore could come to the rescue of the country.
Last year, the district produced some 20,440 metric tonnes of onion. And this year, the district authorities have set a higher target by planning to bring 1,910 hectares of land under onion cultivation.
Also read; Importers fear losses as Indian onions flood Bangladesh markets
"We are giving extra attention to our fields. We expect a bumper output this year, and in turn, a windfall profit," a farmer told UNB. "Winter is the best time to cultivate onion."
In fact, the department of agriculture Extension (DAE) has also set a production target of 21,831 metric tonnes by bringing 1,910 hectares under onion cultivation in the eight upazilas of the district.
According to officials, 330 hectares of land would be brought under onion cultivation in Marimpur upazila, 150 hectares in Sadar, 210 hectares in Sharsha and 540 hectares in Jikhorgachha upazila.
Govt withdraws onion import duty; 10% slash for sugar
The government has withdrawn import duty on onion and reduced that on sugar by 10 per cent in a bid to stabilise the prices of the two essential items.
The Internal Resources Division (IRD) under the Ministry of Finance issued two separate gazettes in this regard on Thursday evening.
While the customs duty on onion import was withdrawn, the regulatory duty on sugar import was cut down to 20 per cent from 30 per cent.
Read: Proposal for duty withdrawal on onion import to be considered: FnM
The decision came as the prices of the daily essentials kept soaring in the local market.
Have enough onion in stock; nothing to worry about: Minister
Commerce Minister Tipu Munshi on Monday said there is adequate stock of onion in the country and there is no reason to panic over it.
“The supply of onions is normal as we’ve some 5 lakh mts in stock. Besides, onions are being imported from India and Myanmar,” he said while speaking at a meeting over keeping the stock, supply, import and price situation of the commodities stable held at the Secretariat.
The Trading Corporation of Bangladesh (TCB) is selling onions at Tk 30 per kg through trucks and new onions will reach the markets after a month, said Tipu.
Also read: Onion price will cool down within 15-20 days: Agriculture Minister
NBR urged to withdraw, slash duties on 4 essential items
The Ministry of Commerce has urged the National Board of Revenue (NBR) to withdraw customs duty on onion import, aiming to keep its price stable in the market.
The ministry also urged the NBR to slash import duties on crude soybean oil, palm oil and sugar to cool the overheated domestic market.
Read:Price hike in Bangladesh: Unseen sufferings of shy middle class
The request was made at a meeting of the Ministry of Commerce at the Secretariat on Monday to keep the stock, supply, import and price situation of the commodities stable.
“NBR has been requested to withdraw the import duty on onion, and reduce the duties on crude soybean, palm oil and unrefined sugar in public interest,” additional secretary to Import and Internal Trade division of the Commerce Ministry AHM Safiquzzaman said at the meeting.
Consumers showing little interest in Tk15 kg Turkish onion of TCB
The Trading Corporation of Bangladesh (TCB) is selling Turkish onions at just Tk15 per kg in Sylhet city. But people are showing little interest in it.