Price Spiral
TCB to import 5,000 tonnes of onion
The government is going to import at least 5,000 tonnes of onion on emergency basis in its bid to ease the soaring price of the essential commodity in the country’s kitchen market.
The government’s trading arm, the Trading Corporation of Bangladesh, will initially import at least 5,000 tonnes of onion from either India or Myanmar, the TCB on Monday decided at its board meeting.
TCB officials said the imported onion would reach the market in the next week.
The TCB will import onion till the market cools down, they said adding that the product would be imported on short-, medium- and long-term basis.
The government took the decision amid a price jump of the product in the local market because of a price hike of the item in the Indian market.
The price of imported onion on the retail markets spiralled at Tk 75- Tk 80 a kilogram on Monday from Tk 44-45 a kg before Eid-ul-Fitr.
Earlier on Saturday, the commerce ministry asked the TCB to examine feasibility of import of onion from any countries like Myanmar,
India or China to help stabilise the market.
Officials said that the TCB board decided to import onion directly and through international quotation and international tender.
The TCB will send letters today to the interested importers for importing onion directly and invite tender on Wednesday while international tenders will be invited within seven days.
A government team, however, will visit Myanmar in the next week to discuss with the Myanmar government officials feasibility of importing onion at the government level.
The delegation will also discuss possibility of importing chickpea and red lentil at the government level, TCB officials said.
-With New Age input
