According to the Bangladesh high commission in New Delhi, India, Bangladesh can now avail competitive advantages through importing onion from that nation to offset its possible shortages. The mission's observations came in a report on 'Onion production and market situation of India', which was sent to the Commerce Ministry for taking required action.
Wholesale price of onions normally remains low during the months of June and July in India, said the report. However, the prices of the key commodity now remain stable in the country's market, a senior official of the Commerce Ministry stated.
In 2019 last, the country witnessed an unusual hike in the prices of some essential items, especially onions. Currently, the Commerce Ministry is keeping a close watch on the key import and supply channels on the most-consumed item onion to avoid the repetition of unusual price hike and also to keep onion prices stable in the domestic market by enhancing its supply, the officials added.
Bangladesh has a demand for 2.3-2.5 million tons, according to the ministry. It also imports an estimated 0.9 to 1.1-million tons against its deficit. The country imported 0.53 million tons of onion up to May 22 this year.