Staff Correspondent, Dhaka
Following India’s extension of export restrictions, the price of onions in Bangladesh nearly doubled overnight.
On Saturday morning, local onions were being sold at Tk220 in the capital, which was Tk140 a day before.
Meanwhile, imported or Indian onions were Tk200 this morning, up from Tk120-140 on Friday.
According to a notification issued by the Indian Ministry of Commerce and Industry on Thursday (7 December), the country announced an extension of onion export restrictions – minimum export price at $800 and 40% export duties – until 31 March next year.
This decision aims to bolster domestic availability and regulate prices, as stated in the notification’s rationale.
The notification outlines three conditions under which consignments of onions can be exported.