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Bangladesh: Government cuts onion import tariff

The government of Bangladesh has removed the 5% customs duty on the import of onion, hoping to increase the supply of these goods in the local market. However, the 5% regulatory duty is still in place. Spokesperson of the National Board of Revenue (NBR) Sayed A Momen stated: “[The] Commerce Ministry requested NBR to remove duty for some products. The decision has been made based on their request.”

The new import tariff will be effective immediately from Thursday. The customs duty for onion will remain suspended till December 31 this year.

The price of onion has almost doubled within a month in local markets. According to the Trading Corporation of Bangladesh (TCB) data, local onions are currently being sold at Tk60-70 per kg, up from Tk42-45 a month ago.

Source: dhakatribune.com


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