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The government has decided to import 0.2 million tonnes of onion ahead of the upcoming holy month of Ramadan, said Commerce Minister Tipu Munshi on Thursday.
Of the amount, the Trading Corporation of Bangladesh (TCB) will import 50,000 tonnes while City Group, Meghna Group and S Alam Group will together import 1,50,000 tonnes -- each 50,000 tonnes separately.
"We will import more 0.2 million tonnes of onion before upcoming Ramadan," the minister said at a meeting on stock, supply and price situation of essential commodities during at the conference room of the ministry.
He said that the shipments of onion will reach the country by March 31.
He asked the businesspeople who attended the meeting how the prices of onion doubled overnight in the local market just after India's declaration on banning of onion export.
"We've no way but to import onion for the sake of market stability and consumers' interests," he said.
"I call upon you (businesspeople) to be pro-active," he said, calling upon the media to help cooperate with the government in its efforts to control the prices of essential commodities during Ramadan.
He requested the businesspeople to remain morally steadfast and logical during the month of fasting.
"I will sit with you (businesspeople) again. I will coordinate with the other ministries concerned too so that the prices of essential commodities remain stable in Ramadan," he mentioned.
The meeting reviewed the present stock situation of lentils, dates, ginger, garlic, edible oil and sugar, and decided to ensure sufficient stocks of those commodities before the month of Ramadan.
The commerce minister also requested the businesspeople not to make excessive profits during the month of fasting.
"Don't make excessive profits to become rich overnight," he admonished the businesspeople.
He said that the government will provide all sorts of supports to the business entities so that they face no trouble in running their businesses.
Chairman of the parliamentary standing committee of the Ministry of Commerce (MoC) Tofail Ahmed said that the government has always been providing support to the country's business community for the sake of country's businesses and consumers' benefits.
Mr. Tofail, who also served as a commerce minister, said that the government and the private sectors have been importing onion for stabilising the prices of the commodity in the local markets.
The onion price had jumped to around Tk 260 a kilogramme (kg) soon after the export ban of onion imposed by India during the last week of September last.
The prices of the spice started to come down due to the arrival of local variety of onion as well as ongoing import in the local markets.
The prices of onion depending on their quality are now being sold between Tk 60 and Tk 110 a kg.
Commerce Secretary Dr Md Jafar Uddin, Chairperson of Bangladesh Competition Commission Md Mofizul Islam, Chairman of Bangladesh Tariff Commission Tapan Kanti Ghosh, Chairman of TCB Brigadier General Md Hasan Jahangir, Chairman of Meghna Group Mostofa Kamal and representatives of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and different business associations were present, among others.