Onion prices have begun to fall in the Hili market in Dinajpur because the duty on imports of new onions from India has been withdrawn, there are few buyers at the port and the weather is very hot. Good onions are selling Tk 3-4 a kg cheaper than a few days ago. Leaders of the importers' and exporters' group say prices will fall further if imports of Indian onions continue.

According to Hili port sources, onion imports and exports between India and Bangladesh were halted from October 11 to 16 because of Durga Puja. The port reopened on the morning of Sunday, October 17, and 474 tonnes of onions were imported on 18 trucks on the first day.

Mithu, an onion seller in the Hili market, told Jago News that although imports and exports were halted during Durga Puja, prices did not rise because there was plenty of local onion. Since yesterday, however, imports of Indian onions have brought prices down by Tk 3-4 a kg depending on the type.

"Three days ago good onions were Tk 48-50 a kg; now they sell at Tk 45-48. The onions imported from India on Sunday include both good and spoiled ones, so they are selling at Tk 42-43 a kg," he said.

Meanwhile, with local onion prices falling and no buyers for Indian onions, the land port's importers are in trouble with onions imported from India at a high price. With large stocks in their warehouses, there is a risk of the onions rotting in the muggy heat. Several warehouses at Hili port visited were found to be holding large quantities of onions.

Amid this, imports of Indian onions began on Sunday, and at retail these sell Tk 3-4 cheaper depending on type. Local onions, however, are selling wholesale at Tk 55.

Asked about it, Harun Ur Rashid Harun, president of the Hili land port importers' and exporters' group, told Jago News: "Imports and exports at Hili port were halted for six days in a row for Durga Puja. To keep the market stable, the government has already withdrawn the duty on onions. If imports continue and local onions are supplied, prices will fall."

Hili customs deputy commissioner Kamrul Islam told Jago News that the notification withdrawing the duty on onions has been received. It took effect on Sunday, and the new duty rate will remain in force until December 31.

Source: Jagonews24. First published in Bengali on The Agro News.