FROM PAGE b4

Since the decision by Indian authority of lifting of the restriction, prices of onion have been falling fast amid increased supply.

Prices of imported onions mainly from Myanmar dipped 38 per cent to Tk 65 each kilogram yesterday from Tk 105 a week ago. Fresh harvest of locally grown onions fell 26 per cent to Tk 70 each kilogram from Tk 95 a week before, according to market data by the Trading Corporation of Bangladesh.

Prices of imported onions are likely to drop below Tk 40 each kilogram once imports from the neighbouring country starts in full swing, said Dipankar Ghosh, organising secretary of the C&F Agents Association at Bhomra, one of the main onion importing ports from India.

Importers will start opening letters of credit for onion after March 10, he said.

Farmers in several parts of Nashik district in Maharashtra recently agitated over falling onion prices.

Average per quintal price for onion for Monday was Rs 1,450 at Lasalgaon, India’s largest market for the kitchen staple.

Commerce and Industry Minister Piyush Goyal said the decision will help boost the income of farmers.

In December last year, onion prices in certain Indian markets had hit a high of Rs 160 per kg.

Onion prices are at present hovering at around Rs 30 per kg at present.