• Monday, Jun 01, 2020
  • Last Update : 12:19 am

Onion prices go up again at Hili land port

  • Published at 10:52 pm September 19th, 2019
HILI PORT
Collected

As the imports declined, prices went up by Tk4-3, with per kg onion selling for Tk48-52 at the port on Thursday, compared to Tk45-48 the previous day

The prices of onion have gone up again after imports fell significantly at Dinajpur's Hili land port because of the new minimum export price (MEP) set by the Indian government.

As the imports declined, prices went up by Tk4-3, with per kg onion selling for Tk48-52 at the port on Thursday, compared to Tk45-48 the previous day. 

Although onion prices were around Tk39-42 per kg before the new Indian export policy took effect.

According to sources at the Hili land port, the import of onion resumed around 5:15pm Sunday after the new MEP came into effect. 

A total of 368 tons of onions, on 17 trucks, were imported through the port on Sunday. The imports rose by 561 tons on Monday but then again fell to only 297 tons on Tuesday. The downward trend continued on Thursday also.

Rashed and Sweet, onion importers at the port, said onion prices in Bangladeshi kitchen markets depend heavily on imports from India. So, if import falls, prices go up automatically, they added. 

Harun-Ur-Rashid, an onion importer at the port, said: "Previously, the import cost of per ton onion was $250-300. In recent months, prices went up in the Indian market due to stock shortage caused by floods.

"Recently, the Indian government also hiked the export price to check price hike in their market. On Friday, India fixed the export price at $852 per ton," he said. 

Moreover, the new MEP had negatively impacted traders, as they were now forced to open new letters of credit (LCs) spending more money. 

Previously, it would cost around Tk23-30 lakh to import 100 tons of onion which now increased to around Tk73 lakh. 

As a result, the Hili port was witnessing a major slump in import, he said.

"However, new onion will come up in different areas of India within the next 20 to 25 days. We hope that price will come down to a tolerable level soon," Harun added.

TCB's open market sale of onion

The Trading Corporation of Bangladesh (TCB) began sale of onion at a subsidized price in the open markets in Dhaka on Tuesday.

The corporation started selling onion at Tk45 per kg at five spots in Dhaka on Tuesday. A buyer can purchase a maximum of two kilos of onion from the spots.

Govt to import from Turkey, Myanmar, China

The government has decided to import onion from Turkey, Myanmar and China to improve supply and bring down prices of the essential cooking ingredient at kitchen markets.

The move came after the Indian government recently fixed minimum export price of onion to rein in soaring prices in their domestic market.

56
53
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail