Home Business Onion: Commerce Minister Tipu Munshi wants a month to control prices.

Onion: Commerce Minister Tipu Munshi wants a month to control prices.

He stated this in a press conference on Wed. within the wake of instability within the market for this vital commodity after India(In) suspended exporting onions to Bangladesh. Munshi.

He stated it’s possible to restore the supply-demand balance within the market by importing onions from thatvariant‘ market in a mo‘s time according to the current stock of onions in Bangladesh.

“Onions could be imported from Myanmar, Turkey, Egypt, China & even the Netherlands (or) New Zealand in a mo.”

In the press conference, the Commerce Minister remarked that the onion market became unbalanced as a segment of traders have taken the chance & ordinary buyers have finished ‘panic purchasing‘.

In addition, the lion’s distribute of the number of onions imported to Bangladesh each yr. comes from Sep to Jan. That is why the market is normally irritated in this time. In the starting of the yr., there is a balance within the market as the delivery of national onions continues.

Because of the relatively high rainfall within the monsoon this yr., the cost of onions was going up for sometime, stated Mr. Munshi.

The Commerce Minister stated 80 to 90 per cent of the onion shortage in Bangladesh comes from India(In).

Thus, in case India(In) stops onion exports, the balance of onion market in Bangladesh is naturally irritated.

He stated that regarding four lakh tonnes of onions would’ve to be imported by Jan next yr. to meet the nation‘s market deficit. Munshi.

“In light of previous year‘s experience, we’re trying to locate an variant market as shortly as India(In) stops exporting. In a mo, we’ll be able to import onions from that variant market,” he stated.

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Shaun Eaton
Shaun is another promising contributor catering his expertise to the website. With past experience as a lawyer, Shaun adds his well-researched news pieces from the Law & Order and Bahrain news.

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