Bangladesh government slaps 10 percent tariff on onion imports

The government of Bangladesh has imposed a 10 percent tariff on onion import to protect interests of local growers. The revenue administration added 5 percent regulatory duties and re-imposed a 5 percent customs duty on import of the essential produce. The move came less than a week after the Ministry of Commerce requested for imposition of import tariff as prices of onions started falling due to import of early varieties of onions from India.

After withdrawing the import ban at the end of the last month, onion imports from India began arriving from early this month, raising concerns among local farmers for ample supply of the perishable during the current harvesting period. According to thedailystar.net, growers have been expanding the cultivation of onions for two years encouraged by the higher prices after India banned exports.

Importers fear losses as Indian onions flood markets
UNB has learnt that many of these businessmen are, in fact, reluctant to unload the imported onions that have already reached Chattogram Port, fearing losses due to a sharp drop in the prices of the sought-after vegetable in the domestic market.

Businessmen say prices have now seriously dropped in the wholesale market. "If we unload the imported onions and sell them, we are going to count huge losses," said an importer.

Source: unb.com.bd


Photo source: Dreamstime.com

 


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