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Corporate - March 16, 2023

Onion import halted price becomes high

Industry Desk: Ramadan is imminent and there is a halt in Indian onion imports through the Hili land port in Dinajpur, leading to an expected increase in onion prices. The permit for onion imports has expired as of yesterdayand importers are requesting an extension for the upcoming month of Ramadan.
As of Wednesday, the local market in Hili has already seen an increase in onion prices. Previously, onions imported from India were sold wholesale at Tk 19 to Tk 20 per kg, but within a day, the price has increased to Tk 20 to Tk 22 per kg, a difference of one to two taka per kg.
The importers at the Hili land port are concerned that if the government does not extend the onion import permit, prices will become unaffordable. The imported onions are from the previous import permit, and if a new permit is not granted, it will result in an unstable market during the fast, allowing some traders to take advantage of the situation.
Harun ur Rashid, the president of the Hili Import-Export Group, stated that the government has set March 15 as the last date for onion import permits. If new permission is not granted, imports of onions through this port will be halted from Thursday, leading to a potential decrease in supply and an increase in prices.
Sources at the Hilisthala port reported that 5,225 metric tons of onions were imported in 180 trucks during the 13 working days of this month.

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