Commerce Minister: Onion, potato prices to come down by mid-December

Commerce Minister Tipu Munshi on Wednesday said onions and potatoes will be available at lower prices by mid-December.

He made the remarks while replying to questions from journalists after a meeting of the National Tariff Policy Monitoring and Review Committee at the secretariat.

He said the prices of onion may decrease when the new crop will arrive in market.”Murikata variety of onion will be available in market next and price may come down.”

The Minister also emphasized the need for promoting local production.

“Again, as new potatoes start will hit the market at the end of December, then price will come down. Now it's a matter of our own production. Again, when we talk about oil and sugar, it depends on the price in the international market. Depending on the context, prices will increase or decrease. We have 20 per cent shortage of onion what we need. We meet this by importing, 90% of which comes from India. The price has gone up there too,” said the minister.

He mentioned that the prices of vegetables fluctuates due to factors such as rain, transportation cost, and occasional hoarding. However, he said prices of certain vegetables have started to decrease, and he expected the prices of winter vegetables will come down in the coming days.

Tipu Munshi said they hope to see some relief in prices as imports continue.” In the meantime, the first shipment of imported eggs has entered the country. I see its impact on the market. If more eggs are imported you will find egg  at the price fixed by the government.”

Source: UNB