The Trading Corporation of Bangladesh is going to start open market sales of onion in the capital from September 13 to keep the market stable as the prices of the commodity had almost doubled in the last two weeks.
The commerce ministry on Tuesday informed that the TCB had taken the maximum preparation ever to begin import and sale of onion in the country.
Onion prices increased to Tk 70 a kilogram on Monday in the capital from Tk 35 a kg a week ago.
To avoid an onion crisis this year, the government has already started a drive on the market to check hoarding, but traders termed the initiative ‘illogical’ and said that it would hamper smooth supply of the item.
According to TCB data, the prices of local onion had increased by 36.84 per cent in the last one week to Tk 70 a kg and that of the imported variety had risen by 46.15 per cent to Tk 50 a kg.
Against the backdrop of a sudden price hike of the item, the commerce ministry has decided to start OMS of onions but the price of the product has yet to be set, one of the TCB officials told New Age on Tuesday.
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