Connect with us


Onion prices rise by more than 50% in Bangladesh as India bans exports



Onion prices in Bangladesh rose by more than 50% on Tuesday, following an export ban by India’s largest supplier after its crops were damaged and harvests were delayed by heavy rain, industry officials told Reuters.

The surprise measure, which went into effect immediately on Monday, could help lower prices in India, but raise prices in Asian nations like Malaysia, Nepal and Sri Lanka, except Bangladesh, as they rely on Indian shipments.

“What are we going to eat now?” asked clothing worker Dhaka Munna Khan, who was fired in March after the coronavirus outbreak shut down many businesses, hitting revenue for many as it boosted commodity prices.

Read | The government bans the export of all types of onions with immediate effect

“Prices of all items went up when we had no revenue.”

Retail prices of root vegetables, a staple of subcontinent cuisine, rose in Dhaka to 90 heels per 100 heels ($ 1.06 to $ 1.18) per kg on Tuesday, from 60 heels on Monday and 30 heels in beginning of the month.

“A lot of trucks are standing on the Indian side with onions,” said trader Saiful Islam. “Now we are wondering what will happen to those supplies.”

India is the largest supplier of onions in neighboring Bangladesh, which buys an annual average of more than 350,000 tonnes.

Onion prices in Bangladesh had risen to a record 250 heels in 2019 after a similar Indian ban forced the government to fly onions.

Now, Bangladesh is turning to other countries for supplies, said trade secretary Mohammad Jafar Uddin.

“Our goal is to import onions in the shortest possible time,” he added. “The government is importing 100,000 tonnes of onions from Turkey and other countries.”

Dhaka sparked a rush from many poor people this week when it offered onions at a subsidized rate of 30 heels per pound, though some were left empty-handed on Tuesday when supplies ran out.

In India, prices have tripled in a month to 30 rupees per kg while onion crops sown in the summer in the southern states of Karnataka and Andhra Pradesh were damaged by excessive rainfall, traders said.

The major onion-producing states in India have received 41% more rainfall than normal since the start of the monsoon season on June 1st.

“Supplies of new products have been delayed by almost a month,” said Ajit Shah, president of the Mumbai-based Onion Exporters Association.

“Prices can stay stable in the short term.”

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

picture credit


to request, modification Contact us at Here or [email protected]

Please disable the ad-blocker on this page to see the content