Government mulls onion imports as prices double

A new harvest of Murikata onions is scheduled to hit the markets this month

The government is considering opening imports of onions as prices have suddenly surged towards the end of the harvesting season.

Commerce Advisor Sheikh Bashir Uddin hinted at the move while speaking to reporters at the Secretariat on Sunday.

He said, “At least 2,800 traders have applied for import permits. If prices do not return to normal within a week, we will approve the import of onions.”

Although farmers were forced to sell onions at low prices throughout the year, prices have now doubled at the season’s end, rising from Tk 60-65 per kg to Tk 120.

Many have alleged that middlemen are responsible for the sharp increase after onions left the farmers’ hands.

However, the government believes the sudden rise in prices has been caused by heavy rainfall at the end of the season.

Referring to the earlier situation when farmers suffered losses, Bashir said: “The price of onions fell to Tk 25-30 per kg, which was not consistent with the farmers’ production costs.”

He added, “This month, 85,000 to 87,000 tonnes of new Murikata onions will arrive, and next month, about 250,000 tonnes are expected.”