Onion price to come down soon: minister

Staff Correspondent | Updated at 10:20pm on July 16, 2019

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Commerce minister Tipu Munshi on Tuesday assured that the prices of essential commodities including onion would come down soon and would remain at an affordable range during Eid-ul-Azha.

At a press conference on achieving export earnings target in the financial year 2018-19 held at the ministry, the minister said that if necessary, the government would sale onion in the open market through Trading Corporation of Bangladesh to keep the price of the item at a reasonable level.

Commerce minister said that prices of onion might increase due to slow down of import from India and monsoon in the country.

Tipu Munshi admitted that there was a tendency among a section of traders to increase the prices of spices including onion, ginger and garlic.

‘The government is aware of the prices of essential commodities and no one will be able to increase the prices unnecessary,’ he said.

The commerce minister also said country’s export earnings in the just concluded financial year 2018-19  achieve double digit growth for first time since FY 14.

 Tipu Munshi said that his ministry was working to set the export target for the FY 1029-20 soon with the feedback from stake holders.

‘We want to grow our export at least 15 per cent per year to achieve the $60 billion target by 2021,’ he said.

Regarding commodity prices, commerce secretary Md Mofizur Rahman said that they had sent letters to deputy commissioners of Satkhira and Dinajpur to scrutinise the import prices of onion at Bhomra and Hili land ports.

‘Some dishonest traders might take the advantage of the increased demand of onion and garlic during Eid-ul-Azha but we are monitoring the market so that no one can manipulate the market,’ he said.