Onion prices rise in Bangladesh after India's imposing duty

Onion prices have started rising in Bangladesh markets after India imposed a 40% export duty on the kitchen item to improve its domestic availability.

The price of onion increased by Tk 10 per kilogram in Dhaka in a day on Sunday. It was seen imported onion being sold at Tk 65 to Tk 70 which was Tk 55 to Tk 60 on Saturday.

After India's imposing export duty, the prices of locally produced onion also rose by Tk 10 to Tk 90 which was being sold at Tk 80 on Saturday.

Besides retail markets, onion prices rose in wholesale markets, and the wholesale traders said the prices went up due to India's imposing duty. 

Buyers said the country's traders by a syndicate raised prices before onion under LC process including 40% duty coming into the country.

Agriculture Minister Abdur Razzaque, however, today said India's imposing export duty on onion will not affect the prices in Bangladesh markets.

NH/SU