Indian ban on onion export heated Khatunganj market

Ctg Bureau: The news of increase in the export price of onion in India has created a sudden instability in the onion market in the country. In the wholesale market, the price of the onion increased by Tk 800 to Tk 1,200 per maund within a day. As an explanation for this, the traders are arguing that the price of the product in India has increased and the supply has decreased in the country. However, this increased price of onions did not come in the country’s market. The concerned said that the dishonest syndicate is involved in the manipulation of the sudden increase in the price of onion.
It has been revealed that on Sunday (October 29), one of the largest wholesale markets of the country, Khatunganj and Chaktai, newly imported onions are being sold at Tk 100 to Tk 110 per kg. On Saturday (October 28) the price was Tk 70 to Tk 80. Besides, old Indian onions are being sold at Tk 90 to Tk 95 on Sunday. There are onions imported from China in the market, but there is no supply. The price of these is Tk 90 to Tk 95. On Saturday, the price of these onions was Tk 70.
It is known that India has fixed the minimum price limit for onion export to keep supply normal and prices stable. On Saturday, the central government of the country fixed the minimum price of onion at $800 per ton. The country’s Directorate General of Foreign Trade (DGFT) said in a notification that this new price limit will be effective till December 31.
According to the notification, the minimum export price of onion will be implemented from Sunday. However, onions under process for export and already handed over to the country’s customs will be exempted from this new price limit.
If asked, the owner of Chaktai Afra Trading Alauddin said told Daily Industry that earlier India used to export onions at a minimum price of $400. Now suddenly made $800. This is affecting the market. Yesterday (Saturday) the price of onion was Tk 70 to Tk 80 per kg. Yesterdayonion was selling for Tk 100 to Tk 110. Earlier last August, India imposed a 40 percent tariff on onion exports. At that time, it was informed that the export duty will be effective till December 31.
Mohammad Mohiuddin, General Secretary of Chaktai-KhatunganjArtaddar General Traders Association, told Daily Industry that the price of onion in India is increasing and the supply in the market is decreasing. Due to this the price of the product is increasing.
In this regard, Vice President of Consumers Association of Bangladesh (CAB) SM Najer Hossain told Daily Industry that India’s increased price onion has not yet come to the market. Earlier, the price increased so much. Now there are syndicates in the market. It is natural that they will increase the price if they get any excuse.