Onion prices have begun decreasing in Bangladesh with the arrival of the first consignments from India after the government allowed imports to cool down skyrocketing prices.
Onion imports were approved after prices exceeded Tk 150 a kg. The government allowed limited onion imports on Saturday.
In the wholesale markets, the prices have fallen by Tk 20 a kg. By Sunday evening, the Department of Agricultural Extension issued import permits for 1,500 tonnes of onion.
Onion-laden trucks were seen entering the Hili and Sonamasjid land ports. The import cost ranged between Tk 25 and Tk 45, according to the importers. Prices of some onion varieties dropped by Tk 30 a kg.
Onion prices surged between Thursday and Friday, with prices of a kg of the product rising by Tk 30 or even more. Maximum 30 tonnes of onions can be imported under one import permit. The DAE has issued 50 such permits so far.
The government said the import would continue until the prices come to tolerable levels.
Bangladesh's onion imports are mostly confined to neighbouring India and Myanmar. In 2023, however, an export ban by India prompted Bangladesh to import onions from Turkey and Pakistan.
