TCB to import 300 tonnes more onion from Myanmar

The state-owned Trading Corporation of Bangladesh (TCB) will import 300 tonnes more onion from Myanmar to cool down the market prices in the local market.
With this end in view, the corporation has completed all necessary formalities for direct procurement of onions from Myanmar and the smooth release of the consignment that will arrive in the country soon.
"We have completed all formalities. We hope the consignment of onions will arrive in the country tomorrow (Friday) from Myanmar through the frontier town of Teknaf," a high official at TCB told the FE Wednesday.
TCB has set a target to import 5,000 tonnes of onion aiming to bring price stability to the market. It has been selling onions at 25 spots in the capital and five spots in each of the divisional cities. The onions are being sold at Tk 65 a kg.
The corporation started selling onions on August 29, 2013, that lasted until October 15, 2013. And it resumed selling the product from November 2.  
"We are doing our best to cool down the onion price. We have been importing onions from India and Myanmar to ensure stability in the onion price in the market," TCB spokesperson Md Humayun Kabir told the FE.
The ministry of commerce (MoC) at a meeting with the stakeholders recently asked the customs houses at land and seaports to facilitate quick release of onion consignments amid the prevailing high price of the essential commodity.  
It also asked the district administrations to strengthen market monitoring drives aiming to check onion price.    
Meanwhile, the price of onion in the retail market is yet to come down to a tolerable level despite a significant fall in the wholesale market and the ongoing efforts by TCB.
In the wholesale market Wednesday, per kilogramme (kg) of local variety of onions sold for Tk 73-Tk 74, while the Indian variety sold for at prices between Tk 60 and Tk 62. During the previous week, per kg of local variety of onions sold at Tk 90-Tk 92, while the Indian variety sold at price between Tk 80 and Tk 82.
In the retail market, per kg local variety of onions sold at Tk 90- Tk 95 Wednesday, while the imported variety sold for Tk 80-Tk 85 in the retail market.
Wholesalers said the price of Indian variety of onions would come down further in the days to come due to smooth supply.
 "The price of the Indian variety of onions will come down further due to its sufficient supply. The price of local variety of onions will take some days to come down," Md Habibur Rahman, a trader at Karwan Bazar, wholesale market told the FE on the day.   
The retailers said they had purchased onions, when the price was high compared with the present price, and they were bound to sell those at a little bit higher price.