India cuts onion price for Bangladesh
India has cut onion price rate for exporting in Bangladesh. The country is not taking 852 dollars per ton at present for the price. It has decreased the price by 150 dollars.
Bangladeshi businessmen now will be able to import onion from India at 702 dollars per ton.
In the later part of the last month India imposed new conditions for exporting the commodity after prices of onion went up 7-8 times in the retail markets. According to the conditions, India made the price double for onion export. The prices were 4 hundred to 5 hundred dollars per metric ton in two months back. But the price was fixed at 850 dollars then.
The decision results a kind of pressure in supply of onion in the Asian market.
It also influenced the market of Bangladesh. In the later part of December the price of local variety of onion was from 110 to 120 taka per kg. And the price of imported Indian variety was 80 to 90 taka.
In a calculation it was seen that the price of onion went up by 209 times within a difference of one year in the country.
According to the Times of India sources, the Indian decision of raising onion price was effective till Saturday.
Harun Ur Rashid, a C and F member of Hili port and president of import-export group said that they have received the letter regarding Indian decision of lower down the export price on Saturday afternoon.
He said, from now Bangladeshis can import onion from India at 702 dollars per ton.
For the first time in the last two months India has cut the onion price for export.