Commerce minister Tipu Munshi on Monday claimed that the price of onions would come down at the end of October after it soared past Tk 100 per kilogram again.
The minister hoped that India might lift the ban on export of onion soon.
Munshi also told reporters at the Bangladesh secretariat that the government would take action against traders who would horde the commodity by illegal means.
The price of local onions rose again in the market and reached Tk 110 a kilogram on Monday.
Onion prices increased from Tk 80 per kg to Tk 120 per kg on September 30, in the city’s kitchen markets, a day after India imposed a ban on export of the item.
Prices went down a little when traders began importing the commodity from other countries like Myanmar, Turkey and Egypt.
Over the past few days, the city markets sold the commodity for prices between Tk 70-90 a kg.
According to traders, the prices started to increase again on Saturday due to supply shortage of local onions faced during the off-season.
The local variety of onions sold for Tk 100-110 a kg and the imported variety sold for Tk 85-100 a kg in the city markets on Monday.