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   DHAKA, Oct 11, 2021 (BSS) - Commerce Minister Tipu Munshi today said that 
there is no reason to get panicked over onion as there is sufficient stock of 
onion in the country while the supply chain is also normal.

   "Onion is also being imported from China and India regularly. So, there is 
no reason to get panicked over onion," he said.

   The Commerce Minister said this while addressing a press briefing 
virtually at the Ministry of Commerce after a meeting convened to review the 
stock, supply, and import situation of essential items and also to make 
stable the supply chain of those essential items. He also cautioned that the 
government would take tough stance if anyone tries to make excessive profit 
through market manipulation.

   Tipu informed that there is a stock of five lakh tonnes of local onion 
while the Trading Corporation of Bangladesh (TCB) is selling onion at Taka 30 
per KG through some 400 trucks across the country. 

   He said that new onion will hit the market within one month and also urged 
the businessmen to do their business with sincerity and honesty so that the 
price of onion remains stable during this period.

   The Commerce Minister informed that the government has already withdrawn 
existing five percent import duty to simplify the import procedure side by 
side requested the National Board of Revenue (NBR) to take special measures 
for speedily offloading those at the ports.

   He hoped that the revenue board would take necessary steps in this regard 
by withdrawing import duty on onion for the next 3 to 4 months.

   Commerce Secretary Tapan Kanti Ghosh informed that out of the total demand 
of country, around 80 percent onion is being produced in the country while 
the rest is being imported from abroad especially from India.

   But, he said due to the excessive rain in neighboring India, the price of 
onion has soared there for which there has also been an impact in the local 
kitchen market.

   Tapan said considering the price hike of onion in India, the price of 
imported onion from India could only increase here to that level, but if 
anyone tries to make excessive profit capitalizing on the issue, then tough 
action would be taken as per the law.

   He also informed that the Directorate of National Consumer Rights 
Protection, the concerned district administrations and the law enforcement 
agencies have been asked to strictly monitor the market.

   The Commerce Secretary also informed that the Ministry of Agriculture has 
been asked to issue IP after speedily testing quarantine of onion.

   Bangladesh Competition Commission Chairman Md Mofizul Islam, TCB Chairman 
Brigadier General Ariful Hasan, FBCCI senior vice president Mostafa Azad 
Chowdhury Babu, Bangladesh Dokan Malik Samity President Md Helal Uddin, 
Moulvibazar Business Association President M Golam Mowla, among others, 
attended the meeting.