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Onion prices shoot up to Tk 120 a kg in Bangladesh

bluesky

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Onion prices shoot up to Tk 120 a kg
Staff Correspondent | Published: 00:48, Sep 16,2020



Onion prices on Tuesday shot up to Tk 120 a kilogram, rising by Tk 50 overnight, after the Indian government had imposed a ban on the export of the item.
Many people rushed to kitchen markets and shops to buy onions fearing a further rise in the prices as it happened in 2019.
Wholesale and retail prices of onions marked a sharp increase on Monday night, immediately after the announcement of export ban by India, and the prices continued to rise every hour on Tuesday with the retail ones hitting Tk 120 a kg in the evening.

In a notification on Monday the Directorate General of Foreign Trade, under the commerce ministry of India, prohibited the export of all varieties of onions until further notice amid price hike of the commodity in the country due to floods.
Before issuing the notice, Indian authorities stopped the export of onions to Bangladesh through all land ports between the two countries on Monday morning.
On Tuesday morning, local onions sold for Tk 75-80 a kg in most of the kitchen markets in the city and the prices increased to Tk 90-100 a kg by noon. In the afternoon, the prices reached Tk 100-Tk 120 a kg in the city markets.

Prices of Indian onions increased by Tk 30-40 a kg overnight and the item was selling for Tk 80 a kg on Tuesday. Consumers expressed anger over the sudden Indian ban on onion export and sharp price hike on Bangladesh markets.

‘India banned onion export last year without any notice. They have done it again this year. We are in fear that onion prices may skyrocket further as it happened in the past year,’ Shahan Ara, a private company official, told New Age at the Mohammadpur Krishi Market on Tuesday morning.
She said that she went to buy onions after learning about the Indian ban. ‘I bought 5 kgs of onion at Tk 100 a kg. I wanted to buy more as the onion prices had hit Tk 300 a kg in the past year following the Indian ban,’ she said.

She said that the price hike of onions was a huge blow for consumers who were grappling with the price hike of other commodities like vegetables amid the coronavirus outbreak in the country.

Ashikur Rahaman, a resident of Adabar, said that he bought 10 kgs of onions at the rate of Tk 100 a kg. ‘I fear that onion prices will increase further, like that of the past year,’ he said. He alleged that the traders were hiking the prices despite having adequate stock.

To keep onion prices stable, a number of teams of the Directorate of National Consumer Rights Protection and commerce ministry began monitoring markets on Tuesday morning but the initiative failed to contain the price spiral.

In Chattogram, onion prices also went up on both wholesale and retail markets on Tuesday. The onion warehouses were emptied on the day by wholesalers as well as by some retailers. It was like a festival of onion sales in the port city, said traders. According to Khatunganj market wholesalers, imported Indian onion prices shot up to Tk 55-60 a kg on Tuesday from Tk 38- 40 a kg on Monday. In kitchen markets of Chattogram, Indian onion prices jumped to Tk 70 a kg on Tuesday from Tk 50 a kg a day earlier.

According to the commerce ministry, the annual demand for onions in Bangladesh is around 24 lakh tonnes and the country imports around 7-10 lakh tonnes a year to meet the demand. The country has a stock of 5.25 lakh tonnes of local onions and it will need to import six lakh tonnes of onions to meet the demand till the next main harvesting season, March-April. Commerce ministry officials said that this year the government had taken early preparation to avoid unusual price hike of onions keeping in mind the situation of 2019.

They said that one lakh tonnes of onions would be imported from alternative sources within a short time. The ministry on Tuesday again requested the National Board of Revenue to withdraw five per cent customs duty on onion import to encourage traders to import the product from alternative markers.

Withdrawal of the duty will also help keeping onion prices stable, it said in a letter to NBR chairman Abu Hena Md Rahamatul Muneem.
The ministry wrote the letter after the NBR on Monday rejected the ministry’s previous request for withdrawing the duty.
The market monitoring teams, meanwhile, scrutinised the buy receipts of onion wholesalers and asked traders not to sell the item at exorbitant prices.

Narayan Chandra Saha, a wholesaler at Shyambazar in Dhaka, said that a mobile court on Tuesday fined a number of traders alleging that they were selling onions at high prices. He said that the demand for onions increased on Monday night at wholesale markets after the imposition of import ban by India.

The government team asked traders to sell onion for Tk 40-50 a kg, which is ‘impractical’, he said. Narayan said that the wholesale prices of local onions was Tk 65-70 a kg in the morning in Shyambazar and the price crossed Tk 85 a kg in the evening.

Khatunganj Hamidullah Mia Market Business Association general secretary Mohammad Idris said that the overheated onion market would cool down once import of the item from Myanmar and other countries began.
 

Atlas

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Will BAL govt never learn ? India stopped export onion last year too . Govt should stop importing onion from India forever and choose alternative market. There is no onion crisis inside India. India just creating pressure by stop exporting.
 

Protest_again

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Will BAL govt never learn ? India stopped export onion last year too . Govt should stop importing onion from India forever and choose alternative market. There is no onion crisis inside India. India just creating pressure by stop exporting.
Why do you make excuses for your incompetence? And why do you see conspiracy for the same.

Government bans onion exports as prices treble in a month

GOI responsible to its citizens not Bangladesh.

You cannot ban Indian onion except if you produce your own. South Asian cuisines use a strong flavored onions, which is unique to subcontinent. You tried to import from China before they were big flop like many of their products.
 
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Atlas

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Why do you make excuses for your incompetence? And why do you see conspiracy for the same.

Government bans onion exports as prices treble in a month

GOI responsible to its citizens not Bangladesh.

You cannot ban Indian onion except if you produce your own. South Asian cuisines use a strong flavored onions, which is unique to subcontinent. You tried to import from China before they were big flop like many of their products.
So 500 RS per quintal is good for your farmers ? Okay I am happy that you guys still eat 3 roti with wil two tea spon of dal and claim that Bangladeshi people eat dry ruti because they ( we ) eat ruti with egg omlet. And do not worry , we have alternative sources . Just your traitor nation stopped it without any notice . From next time we will be careful . Soon you will lose Bangladesh as your free market and other friendly countries will be beneficial with us by doing solid business .




Nashik farmers protest Centre’s ban on onion exports

CITIES Updated: Sep 15, 2020 20:51 IST
Abhay Khairnar

Abhay Khairnar



PUNE: The Centre’s decision to ban export of onion has angered farmers and traders from Nashik and other districts in western Maharashtra with growers resorting to agitation at Agriculture Produce Market Committees (APMCs).
According to Suvarna Jagtap, chairman, Lasalgaon Agriculture Produce Market Committee, the rates of the commodity came down at Lasalgaon, home to among the largest onion markets in the country, as farmers and traders held protest on Tuesday.
“Before the export ban circular, the average rate in the Lasalgaon APMC was Rs 2,500 per quintal. After the Centre’s decision, rates have crashed to Rs 500 per quintal. The farmers and traders have warned that the market will remain closed on Wednesday if the central government does not withdraw the decision,” said Jagtap.
Protests were also held in other parts of Maharashtra, including Mungse, Pimpalgaon, Nampur and Umrane markets along with Pandharpur in Solapur where farmers stalled auctions. The onion growers from Nashik blocked the Mumbai-Agra Highway.
Jagtap raised the question that if the National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) had the stock of 1 lakh metric quintal, instead of export ban, they can bring these stocks in the market to control the prices.
On Monday, rates were Rs 1,100 per quintal on the minimum side and Rs 3,209 on the higher end with Rs 2,950 as an average. However, the decision to ban exports brought down the price to Rs 2,700 per quintal hours later. The Union government on Monday banned the export of all varieties of onions with immediate effect, a move aimed at increasing availability and checking price of the commodity in the domestic market.
The decision invited sharp political reactions with the Congress and the NCP, demanding withdrawal of ban.
Maharashtra Congress unit chief and revenue minister Balasaheb Thorat said, “Just as onions had started getting a good price, Modi government has suddenly banned exports, which is injustice to the farmers. The ban should be immediately reversed. Against this unjust decision taken by the central government, Congress party will on Wednesday, September 16, hold statewide protest.”
NCP chief and former Union agriculture minister Sharad Pawar met Commerce minister Piyush Goyal in Delhi. “The central government has abruptly announced a ban on #onionexports. This has led to strong reactions from the onion growing belt in Maharashtra & therefore the representatives of various political parties contacted & requested me to convey their demands to Central Government. To address this issue, I met Union Minister of Commerce and Industry Shri. Piyush Goyal (@PiyushGoyal) today and apprised him of the plight of onion growers. I pointed out to him that these onion growers are mainly small land holders and Jirait farmers,” Pawar said in series of tweets.
Nampur APMC chairman in Nashik district Sanjay Bhamare who is also Bharatiya Janata Party’s Nashik district vice-president said, “Farmers and traders did the agitations on Tuesday. After the central government’s decision on Monday, despite the auction, traders rejected the purchase of the onion. It happened to almost all the APMC.”


Source: https://www.hindustantimes.com/cities/nashik-farmers-protest-centre-s-ban-on-onion-exports/story-cCu9NUBsMkY6cLUalnNiKI.html
 

Protest_again

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Before the export ban circular, the average rate in the Lasalgaon APMC was Rs 2,500 per quintal. After the Centre’s decision, rates have crashed to Rs 500 per quintal. The farmers and traders have warned that the market will remain closed on Wednesday if the central government does not withdraw the decision,
I don't think that's true at all. Usually we get to buy onion at 20rs per kg. It had risen to 40rs per kg in our local market. As the crop had been washed away this season because of heavy rains, the traders quickly raise the prices by hoarding and speculation. GOI is preempting this.

National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) had the stock of 1 lakh metric quintal, instead of export ban, they can
This is part of price stabilization fund set up last year after seeing the crisis. They stock up when in surplus and release during off season. Off season is yet to come. After may be few weeks, looking at the supply, they might revoke ban on exports.

May be Bangladesh instead depending on us, set up your own price stabilization fund to overcome crisis. You could even negotiate with GOI at the government level to let you use our reserve stocks for this year. Crying hoarse is not going to solve the situation.
 

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