A day after India placed a ban on its onion exports, lead to onion prices almost doubling in Bangladesh.
People of the Bangladeshi raised concerns over the dramatic price increase had made it difficult to buy even the minimum quantity of onions. In Bangladesh, until the last Sunday, onions cost 50 cents per kilogram. By Wednesday, they were being sold at up to $1.2 per kilogram.
To maintain supplies, Bangladesh has started importing onions from Pakistan, Turkey and Egypt. Assuring residents that “there is nothing to worry about,” Commerce Minister Tipu Munshi said on Wednesday that the country has 500,000 tons of onions in reserve.
According to traders at the capital’s wholesale market in Shyambazar, around 80 percent of Bangladesh’s annual onion consumption is sourced from India. But this isn’t the first time the high price of the commodity has led to tears of frustration for consumers and traders in the country. A similar ban by India on Sept. 30 last year lifted prices to $3 per kilogram.
People of the Bangladeshi raised concerns over the dramatic price increase had made it difficult to buy even the minimum quantity of onions. In Bangladesh, until the last Sunday, onions cost 50 cents per kilogram. By Wednesday, they were being sold at up to $1.2 per kilogram.
To maintain supplies, Bangladesh has started importing onions from Pakistan, Turkey and Egypt. Assuring residents that “there is nothing to worry about,” Commerce Minister Tipu Munshi said on Wednesday that the country has 500,000 tons of onions in reserve.
According to traders at the capital’s wholesale market in Shyambazar, around 80 percent of Bangladesh’s annual onion consumption is sourced from India. But this isn’t the first time the high price of the commodity has led to tears of frustration for consumers and traders in the country. A similar ban by India on Sept. 30 last year lifted prices to $3 per kilogram.
