Onion prices have gone up in Khulna market just after the India's imposition of 40 percent duty on its export which came into effect from Sunday (August 20). The prices of onion have increased by Tk 10-15 per kg in the local market just in a day. On Sunday, Indian onions were being sold at Tk 65-70 per kg, while local onions at Tk 90 per kg. But on Saturday, per kg of Indian and local variety onions were sold at Tk 55-60 and Tk 75 per kg respectively. Read: India imposes 40% duty on onion exports effective today Sujan and Kawsar, traders of Mylapota Sandhya Bazar in the town, said that there is no shortage of onion in the market. However, they are paying Tk 10-15 more for buying per kg of onion. As a result, onions have to be sold at a higher price, they added. On August 19, the Revenue Department of the Indian Finance Ministry imposed a 40 percent duty on onion export to check price hike. Read: Indian onions start arriving through land ports as import resumes Importers said earlier they paid no tax for importing onions from India. Due to the 40 percent duty, an extra Tk 15-19 per kg will have to be counted. An Indian gazette notification signed by Amreeta Titus, deputy secretary of the Revenue Department under the Finance Ministry, said the duty will remain effective till December 31 this year. Indian exporters said onion prices are soaring in the country and the government has imposed the duty to discourage exports. Read: Proper preservation of onions to end instability, crisis: Agriculture Minister  Buyers said that the prices of onion have increased compared to the last few days. Onions may be stockpiled by unscrupulous traders on the pretext of import duty that may cause further rise in prices, they feared. Ibrahim Hossain, deputy director of the Khulna divisional office of the Directorate of Consumer Rights Protection,  said that they are monitoring the market.

The Revenue Department of the Indian Finance Ministry has imposed a 40 percent duty on onion exports to Bangladesh effective today (August 20, 2023), causing a hike in the price of the item mainly used as spice in local markets. An Indian gazette notification signed by Amreeta Titus, deputy secretary of the Revenue Department under the Finance Ministry, said the duty will remain effective till December 31 this year. India imposed the duty for the first time. Importers of Hili Land Port said earlier they paid no tax for importing onions from India. Due to the 40 percent duty, an extra Tk 10 per kg will have to be counted. Read: Indian onions start reaching Satkhira, leading to prices easing down On the other hand, each kg of onion is being sold at Tk 50 since this morning. Per kg of onion was being sold at Tk 39-47 just a day back. They said Sunday is a weekly holiday in India and import of onion won’t be possible until the newly imposed duty is not paid, urging the Bangladesh government to look for alternative markets to import the item from. Read: Indian onions start arriving through land ports as import resumes Indian exporters said onion prices are soaring in the country and the government has imposed the duty to discourage exports. They suspected that the prices may be hiked next month as substantial amounts of onions rotted due to excessive heat. Read more: Govt to allow onion import from Monday: Agriculture Ministry