Govt warns against creating artificial crisis of onion

The government on Monday warned against hoarding and creating artificial crisis of onion, a key essential item, in the country.

The warning came against a backdrop of sudden hike in onion prices in the market.

Local onion was sold at Tk 60-70 a kilogram on Monday which was Tk 40-50 per kg a week back.

Imported onions were retailed at Tk 45-55 a kg from Tk 30-40 a kg earlier.

Trading Corporation of Bangladesh (TCB) recorded a 40-54 per cent hike in onion prices in a week.

Traders concerned said a surge in import costs as well as low domestic production is leading to such a hike.

The government will take stern action against price manipulators of onion as per the existing law if any attempt is made to increase the prices of onion through illegal hoarding or creating artificial crisis, said a press release issued by the commerce ministry.

There is an adequate stock and supply of the widely-consumed kitchen goods in the country and the import situation is now normal. Currently, there is no reason to increase the prices of the item in the market, it added.

The commerce ministry and Directorate of National Consumer Rights Protection (DNCRP) have strengthened their market monitoring.

TCB which is under the commerce ministry will launch open market sale (OMS) of onion through truck soon to keep its prices and supply stable until newly-harvested onion arrives in the market, the release said,

The decision was taken at a meeting of the task force committee held at the secretariat with its president and commerce secretary Md. Jafar Uddin in the chair.

The meeting also reviewed the stock, supply and price situation of essential commodities.

In addition, the meeting decided to send letters to the ministry of agriculture regarding import permission and quarantine, the release mentioned.

It also decided to send a letter to the National Board of Revenue for rescheduling tariff on the basis of request by onion importers.

Senior officials of the ministry and state agencies concerned were present at the meeting.

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