Import onions from alternative markets if necessary: FBCCI president

In response to the surge in onion prices in the market, the country's apex trade body FBCCI President Mahbubul Alam, has advocated for the import of onions from alternative markets if necessary to stabilise supply chain and price.

He said onion import from alternative markets could be considered to maintain a reasonable price for onions and ensure the smooth functioning of the essential commodities supply chain, according to a press release.

To address the ongoing crisis, Mahbubul assured that the FBCCI will provide full support to the businesses involved in importing daily essentials, including onions, from various countries.

He emphasised the importance of selling these products at a fair price and urged traders to refrain from artificially inflating onion prices.

Mahbubul put stress on the necessity of onions for individuals from all societal strata, ranging from the lower class to the upper class.

Those, who are causing hardships for personal gains do not represent the true spirit of the business community, he added.

The FBCCI president also called for the cooperation of traders and emphasised the responsibility of businessmen to prevent the suffering of the common people.

He also focused on vigilance from the entrepreneurs in preventing the destabilisation of markets through artificial crises.

The market should import onions from alternative countries to maintain its supply normal if necessary and subsequently provide to the consumers at a fair price, he added.

The FBCCI president also called for increased monitoring of the purchase and sale of onions at the retail, wholesale market and wholesale levels to maintain stable prices.

Mahbubul remained optimistic about the cooperative efforts from the entrepreneurs of this sector in addressing this issue and reiterated his commitment to supporting measures that prioritise the well-being of the general people.

On 9 December, the price of onions in Bangladesh nearly doubled overnight and kept rising by the hour following news of India's extension of its export embargo on the essential commodity.

Amid the price hikes and instability, the freshly harvested "Murikata" onions started arriving in Dhaka on Sunday (11 December), bringing some relief to consumers.

Notably, these new arrivals are being priced slightly lower than the old local and imported onions in the Dhaka market.

On Sunday, the old local onions were sold at Tk190-220 per kg, imported Indian onions at Tk180-200 per kg, and large-sized onions from China at Tk120-130 per kg.

The newly arrived Murikata onions, however, were sold at Tk140-160 per kg, offering a more affordable option to the consumers.