After the price of onion became thrice in India, the government imposed a ban on all types of onion exports. Onion prices continued to rise in the southern states of India after the summer crop was damaged by floods. Due to the suspension of onion exports from India, there was a crisis in the country's market. This time the price of onion started rising overnight like last year.
To resolve the crisis, traders have taken 351 permits (IP) to import 1 lakh 61 thousand and 457 tones of onions till Wednesday. Already 1,006 tons of onions has been imported and cleared from the port. However, traders are expecting onions to start arriving through Chittagong port from October 15. It is estimated that the price of onion will come down to Tk 43 to Tk 50 in the retail market.
An importer of consumer goods in Khatunganj, Owner of BSM Group, Abul Bashar Chowdhury said, “Stoppage of Indian onions, several consignments of Myanmar have arrived in Khatunganj. However, LC’s have been opened to import most of the onions from Egypt and the Netherlands. Most of the onions will arrive by the end of October. All in all, onions from far-flung countries will start arriving from October 15.”
Asked about the price after the arrival of onions, he said, "Importers have opened LCs wherever they get onions."
Many have booked at 430, 500, 540 dollar or more per tones. As such, the import cost of onion should be between Tk 43 to Tk 50 per kg. However, the price will depend on how much onion is wasted on the way. Since onions are perishable products, some onions rot when brought. However, after the arrival of onions, the current market instability will no longer exist. Then the market will be stable.”
According to the Plant Quarantine Center, traders have so far taken 351 permits (IP) for importing 1 lakh 61 thousand and 457 tones of onions. Among them, 1,006 tons of onions came from Myanmar and Pakistan. However, there are more onions in the pipeline.
Deputy Director of plant quarantine center, Dr Mohammad Asaduzzaman Bulbul said traders have so far taken 351 permits. It has received permission to import 1 lakh 61 thousand and 457 tons of onions. Traders have taken permission to import onions from a total of 12 countries. The countries are China, Egypt, Turkey, Myanmar, New Zealand, Netherlands, Malaysia, South Africa, Ukraine, the United Arab Emirates and Pakistan. Besides, it has taken permission to import 200 tons from India.
Chittagong Custom House and Chittagong Port Authorities have taken necessary steps to unload these consignments to keep the supply of onions in the country's market normal.
