Onion import falls as India raises price

Import of onion through Benapole land port has decreased as the
Indian government has raised the price of the produce because of a
poor harvest and supply. Onion import through the port is gradually
falling, as no new letter of credit (L/C) is being opened now, said
officials. Earlier local businessmen used to import onion from India
through different land ports at a rate of $270 per tonne. But the
price has been fixed at $355 from October 6. In the last 8-9 days
1 , 612.72 tonnes of onion were imported through Benapole port.
Massive flood and excessive rainfall in Indian southern states have
damaged onion crop and supply. Indian commerce ministry and its
affiliated body have reportedly started discouraging export of onion
to Bangladesh. Bangladeshi traders apprehend that the price would not
become normal before Eid-ul Azha although Indian exporters say the
situation is normal.