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Onion price in downward trend as India lifts ban
Rtv online report
28 Feb 2020, 00:00
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The prices of onion are in downward trend as India has lifted ban on export to Bangladesh. In the last one week the prices of onion have decreased by 15 to 25 taka per kg in the capital’s kitchen market. The prices of garlic have also decreased.
The information was gathered after visiting some kitchen markets including Karwan Bazar, Mirpur-2 and Hatirpul.
In the markets imported onion (Chinese and Pakistani) is being sold at 70 to 75 taka per kg while the local variety is being sold at 80 to 90 taka per kg.
The traders said, India kept ban on onion export for the last four months. As a result onion supply has decreased in the country’s market. At present supply of new onion is increasing and India has lifted ban on export. The prices are decreasing for these reasons.
After visiting the kitchen markets it was seen that prices of garlic have also decreased. Imported Chinese garlic is being sold at 170 to 180 taka per kg which was 200 to 210 in the last week. The local variety of garlic is being sold at 80 to 90 taka which was 140 to 150 in the last week.
In the other small kitchen markets or grocery shops onion and garlic are being sold by 5 to 10 taka higher prices than the prices in Karwan Bazar wholesale market.
AH
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Bribery, corruption main barriers to promote business in Bangladesh: US report
The '2024 National Trade Estimate Report on Foreign Trade Barriers' published on March 29 identified barriers to government procurement, intellectual property protection, digital trade, investment and labour rights in Bangladesh.
According to the NTE report published by United States Trade Representative Catherine Tai, the United States faces several obstacles in doing business with Bangladesh. Bangladesh faces obstacles in the export of goods and services, foreign direct investment and e-commerce.
NTE reports have been published regularly since 1985. This year's NTE report highlights significant foreign trade barriers in 59 markets.
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It also said that bribery and extortion are common in commercial transactions despite bribery transactions and gifts being illegal. US companies have also complained that they are forced to pay bribes to get licenses.
The report also mentions that the government has tried to weaken the anti-corruption rules in procurement.
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The export of goods valued at $5.10 billion in March this year. Export earnings increased by about 10 percent.
This information was revealed in the updated report of the Export Promotion Bureau (EPB) released on Tuesday (April 2).
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BERC Chairman Nurul Amin announced the new price at a press conference on Wednesday (April 3) noon. The new prices will be effective from 6 pm.
Meanwhile, On March 3, the price of LPG was increased at the consumer level for the eighth consecutive month. Earlier On February 4, the BERC raised the price of a 12-kg cylinder by Tk 41 to Tk 1,474.
BASIC Bank to merge with City Bank
This time, BASIC Bank will merge with City Bank.
This decision was taken in a meeting held at Bangladesh Bank on Monday.
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Earlier on March 19, City Bank's board was advised to merge BASIC Bank. Then the matter was discussed between the boards of City and BASIC Bank. According to some sources, even if the two banks are merged, they will report separate financials for the next three years.
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Gold prices creating records one after another in the world market. The price of this precious metal is constantly increasing.
For the first time in history, gold prices rose above $2,400 per ounce to an all-time high on Friday ( April 12).
Earlier, on April 5, gold prices crossed $ 2,300 an ounce for the first time in the world market. Just seven days later, on Friday, the price exceeded $ 2,400. Which is the highest in the world market.
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Bottled Soybean oil prices raised by Tk 4 per litre
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State Minister for Commerce Ahasanul Islam said this at a press briefing at the secretariat on Thursday (April 18).
According to the new decision, price of bottled soybean oil hiked to Tk 167 from Tk 163 per litre.
The State Minister said that the price of loose soybean oil has been reduced to Tk 147 from Tk 149 per liter. However, the price of bottled soybean oil has been increased from Tk 163. This price will be effective from tomorrow.
Earlier, on Monday Bangladesh Vegetable Oil Refiners & Vanaspati Manufacturers proposed the government to raise the price of soybean oil by Tk 10 to Tk 173 per liter.
