India banned onion export around the same time last year, pushing up prices of the bulb to record heights in Bangladesh
As news of India’s onion export ban spread, traders in Magura hiked prices of the bulb to as high as Tk 100 per kg on Wednesday.
People bought each kg of local variety of onion at Tk 90-100 in the morning that cost Tk 60-65 the previous day.
Locals said the price has been increased without any reason.
An official of the local Directorate of National Consumer Rights Protection (DNCRP) blamed unscrupulous traders for the price hike.
In Dhaka’s kitchen markets, onion prices nearly doubled a day after India banned export of the bulb. Dhaka has requested Delhi to reconsider its move.
Commerce Ministry source said the government has decided to import one lakh tonnes of onion as soon as possible to keep the local market stable.
Meanwhile, the Trading Corporation of Bangladesh (TCB) started open market sale (OMS) from Sunday offering onion at Tk 30 per kg.
India banned onion export around the same time last year, pushing up prices of the bulb to record heights in Bangladesh.