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Bangladesh to import Onion via Air Cargo as price soars

In a statement released on Friday, the commerce ministry said that onion will be flown in from Turkey and Egypt to ensure adequate supply in the market soon. Pointing to the cyclonic storm Bulbul that hit Bangladesh this week, the statement said that it affected the arrival of onions but a  big shipment of onion will arrive soon through the sea route.

Onion prices in Bangladesh have gone beyond 200 Taka per kg in recent days. In some areas, the local variety of onion is selling at even higher prices.

Bangladesh has a demand of about 24 lakh tonnes of onion per year out of which 7 lakh to 11 lakh tonne is imported.

Government had tried to bring down prices of onion by easing onion import, sale through government outlets at fixed prices and drive against hoarders. But these efforts failed due to global volatility, cyclonic storm and suspected hoarding of onions by some traders.

Market experts consider hoarding as one of the main factors causing sharp rise in onion prices. Government agencies have fined and jailed more than 2,000 traders in past two months for hoarding onion to create an artificial crisis in the market.

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