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The government has announced a Tk 160-million allocation for input assistance and cash support to farmers to boost late-summer onion cultivation and bolster domestic spice supplies.
For the late-summer onion variety, registered farmers will receive a package that includes 1 kilogram of seeds, 20 kilograms of DAP fertilizer, 20 kilograms of MOP fertilizer and Tk 2,000 in cash, according to a ministry release.
The decision comes in response to the volatile local onion market. August has seen a sharp surge in onion prices, with a 30-40 per cent increase compared to July.
The cost of imported Indian onions has reached Tk 70-80 per kilogram, while the local variety is priced at Tk 90-95 per kilogram.
To mitigate the price hike and reduce dependence on imports, the government aims to achieve self-sufficiency in onion production. As part of the initiative, the government is actively offering incentives and strategic support to farmers, according to the agriculture minister.
Earlier in the summer season, farmers were granted Tk 160 million in incentives to boost onion cultivation.
The cultivation window for the late summer variety is from November to December, with the harvest expected between January and February.
These incentives are being funded through the regular budget of the Ministry of Agriculture, specifically allocated for agricultural rehabilitation assistance and the seeds and seedlings sector.
The official government directive outlining these incentives has already been issued, and the distribution process will soon commence at the grassroots level.
In the initial phase of this endeavour, nearly 18,000 farmers were beneficiaries of Tk 160 million in incentives, designed to boost the production of summer onions.
This multifaceted approach, which combines financial assistance, technical support and strategic planning, reflects the government's commitment to strengthening the agricultural sector and ensuring a stable supply of essential commodities, said Agriculture Minister Muhammad Abdur Razzaque.
By fostering local onion cultivation during the late summer period, the government is taking proactive steps to address market volatility and reduce dependence on external sources.
This concerted effort could help stabilise onion prices and empower farmers by contributing to the overall resilience of the agricultural landscape, said Razzaque.