How much the price of potatoes and onions has reduced due to the reduction of import duty
October 2, 20242 Mins Read
Jumbangla Desk: After the reduction of import duty, the price of daily necessities potato and onion has been affected in the market. The price of potato per kg has decreased by 1.79 percent and the price of imported onion has decreased by 11.63 percent. Recently, this information came out in a report of Bangladesh Trade and Tariff Commission.

Potato-Onion

On September 5, the local government reduced the import duty of two daily products. As a result of this, the price of potato-onion has decreased slightly in the country's market in the last one month.

According to the report, the price of potato and onion in the international market has increased quite a bit in the last one month. Despite this, the prices of these products in the country's market have not increased, but have decreased slightly. The Commission believes that the price of potato and onion has decreased in the country's market due to the reduction in import duty.

The common people of the country have been under pressure for a long time due to high inflation. Last August, food price inflation in the country was 11.36 percent. It increases further in July. Prices of rice, eggs, sugar, edible oil, various fruits and fuel oil are still high in the market.

Many of these products have to be imported to meet the demand. According to experts, reducing the duty on some other commodities like potatoes and onions may also affect their prices.

Due to the high price of onion and potato in the market for a long time, the interim government took the initiative to reduce the import duty of the two products at the beginning of September. After that, a notification was issued on September 5. The duty on potatoes has been reduced from 25 percent to 15 percent.

Besides, the three percent regulatory duty on potato import was also withdrawn. At the same time, the five percent regulatory duty on onion was lifted.

It has been seen in the market that potatoes which were selling at 55-60 taka a kg in the retail market a month ago, were sold at 54-56 taka yesterday on Monday.

A month ago, imported onion was sold at Tk 110-115 per kg in the retail market. The same onion was sold for Tk 90-100 yesterday.

Apart from this, the price of domestic onion has also decreased slightly. A month ago, desi onion was selling at Tk 110-120 per kg, which was sold at Tk 105-110 yesterday.