TCB spokesman Humayun Kabir on Sunday said they decided to reduce the price after observing the market situation.
“Each kg onion will be sold at Tk 35 from Monday from trucks until further announcement. We used to sell the imported bulb at Tk 45 in the capital to control its prices,” he said.
According to TCB market observation, each kg imported onion was being sold at Tk 60-120 and the local variety at Tk 90-110 on Sunday.
Onion prices started surging after India banned its export on September 29 for “improving domestic availability”.
The supply crunch pushed up the price of the common kitchen item by as much as 557.8 percent year-on-year rise, according to TCB.
The price started coming down in recent weeks after imported onion and the local varieties hit the market.