More than 500 new traders have applied to enter the country's onion market, officials of the Department of Agriculture Extension (DAE) confirmed.
To import six lakh tonnes of onion from six countries, these businessmen have obtained permission from the DAE. Among the traders, there are some giant business groups as well as seasonal traders.
Director of Plant Quarantine Wing of DAE, Dr Md Azhar Ali confirming this to the media said, “A good number of traders have applied for licenses for onion import, the department has already provided them approval. If they import the applied for, quantity of onions, there will be no shortage of onions in the market”.
The DAE said it has never allowed the import of such a large quantity of onions in such a short time. However, it also does not know how many of them opened the Letter of Credit (LC).
Leading analysts of the country said, the Finance Ministry’s recent withdrawal of the entire five percent duty on onion imports, is one of the reasons for the huge response.
According to DAE information, in the first 20 days of this month, 500 businessmen had taken permission to import six lakh tonnes of onion from abroad. Among them, on September 17, the highest 200 traders from Chattogram received permission to import 1.5 lakh tonnes of onion. They are supposed to bring onions using Chattogram Port.
Among the permission receivers, S Alam Group will import 20000 tonnes from the Netherlands, Abul Bashar and Sons will import 500 tons from Pakistan, SA Corporation to import 501 tons, S Islam Trading to import 400 tones, RedLink will import 1000 tones from Egypt, and AH Enterprise will import from China.
Commerce Minister TipuMunshi said the country currently has about five lakh tonnes of onion stocks. About 25,000 tonnes of onions stuck from India are being brought into the country. The country has a demand of four to five lakh tonnes of onions till next season. But in just 20 days, about six lakh tonnes of onion has been licensed.
Consumers Association of Bangladesh President Golam Rahman said onion production in the country was adequate last season and the country still has adequate onion stocks. Whether onions come from India or not, the overall situation will remain stable.
According to the DAE, the country's annual demand for onions is about 30 lakh tonnes. Production is about 19 lakh tonnes. About 11 lakh tonnes has to be imported.