India to lift ban on onion export by end of October: Tipu Munshi

Sun Online Desk

14th October, 2019 06:53:10 printer

India to lift ban on onion export by end of October: Tipu Munshi

Commerce Minister Tipu Munshi on Monday said India may lift ban on the export of onion by the end of the current month. Therefore, the soaring price of onion will return to normal soon.

He came up with the remark while talking to reporters after attending a national committee meeting on textiles sector of the country marking the National Textiles Day, 2019 at the conference hall of Textiles and Jute Ministry in secretariat office.

The minister said, “We hope that India will lift the export ban of onion by the end of this month (October). I have already discussed the issue with the Indian commerce and industry minister.”  

“The price hike of onion is a provisional problem as the demand has increased following the fall of supply due to the onion export ban by India. Onion is being sold between Rs 55 and Rs 60 per kilogramme (kg) in India,” he informed.

He also said that the process of importing onion from other counties by the ‘big importers’ of the country is under way.

On September 29, Indian government banned the export of onion in the wake of its rising prices in the country.

Later, onion prices increased by Tk 60-80 per kg in the retail market of Bangladesh following the export ban by India.