hm-atif-wafik

Onion Prices Go Up Despite India Slashes Export Duty

Onion Prices Go Up Despite India Slashes Export Duty  || Photo : Collected

Onion Prices Go Up Despite India Slashes Export Duty || Photo : Collected

Despite 20 percent less of export duty, the price of onion is not reducing in Bangladesh. The importers are blaming the syndicate of Indian traders behind this. They complain that Indian traders are exporting onions at an additional price of at least Tk15.

As the production of onion in India is good, the country took the initiative to export at a large rate. On September 13, the export duty was reduced from 40 percent to 20 percent and the export price of onion per ton was reduced from $550 to $405. Now importers of Bangladesh are importing onion at low duty. But it does not affect the market. Hili's importers claim that all the blame lies with Indian traders.

Sakhawat Hossain Shilpi, President of Hili Land Port Import Export Group, said that onion prices in India have increased by Tk15 per kg. As a result, the price of onion in Bangladesh has increased.

Onion supply has increased in capital markets. Domestic and Indian onions are selling at the same price per kg in the wholesale market. Tk110 per kg in the retail market.

Meanwhile, the interim government has taken the initiative of feeding hilsa to the people of Bangladesh at a low price. Export stopped. However, didn't work Instead, the price of hilsa increased by about Tk 200 per kg in a few days. Although the Ministry of Commerce has allowed the export of 3000 tonnes of hilsa to India on the occasion of Durga Puja. However, the export has not yet started.

Why is the government's initiative in market management not successful? Analysts say the old syndicate is active again due to lack of forces of law enforcement.

Vice President of the Consumers Association of Bangladesh (CAB) SM Najer Hossain said that it should be ensured that the benefit of reducing export duty goes to the field level. Apart from this, concerted efforts are needed to bring the prices of the products within the reach of the consumers.

Subscribe Shampratik Deshkal Youtube Channel

Comments

Shampratik Deshkal Epaper

Logo

Address: 10/22 Iqbal Road, Block A, Mohammadpur, Dhaka-1207

© 2024 Shampratik Deshkal All Rights Reserved. Design & Developed By Root Soft Bangladesh