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Stabilising essential prices

Formation of spl. intel unit in MoC suggested

REZAUL KARIM | January 14, 2020 00:00:00


A mid-level government official has suggested creating a special trade intelligence unit in the Ministry of Commerce (MoC) to help maintain price stability in the country's kitchen market.

A report prepared by the official has also suggested forming several small teams comprising officials, traders and importers to select prospective sources of import of various commodities.

The special intelligence unit will keep the commerce ministry up to date with its market study through analysis of both local and overseas markets to prevent any possible market volatility, according to the official.

Deputy Secretary of the commerce ministry Mirajul Islam Ukil made the suggestions in the report he has prepared on the basis of his recent visit to Turkey following price hike of onion in the local market.

When contacted, Mr Islam said, "A report on recent Turkey visit was submitted to the commerce secretary on January 09 with suggestion for taking necessary steps.

As per the instructions of the commerce ministry, the deputy secretary monitored and coordinated the onion import activities and worked to boost trade relations between Bangladesh and Turkey during his visit.

The report has also recommended that the country import a large volume of onion from Turkey as its prices are low. Still there are opportunities to import onion from Turkey, it added.

Besides, Turkey could be a potential market for Bangladesh to import gram, maize and different fruits. The prices of different types of fruits are very low, said the report, a copy of which was obtained by the FE.

Following a request from the ministry, some private importers brought in a good chunk of onion from Turkey to check its skyrocketing prices.

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