The Trading Corporation of Bangladesh (TCB) has reduced onion prices to approximately $0.21 per kg, collaborating with e-commerce platforms. Previously capped, consumers can now purchase unlimited quantities online. The initiative extends across Dhaka, Chattogram, Tangail, Rajshahi, and Sirjganj, involving eighteen e-commerce companies.
The availability of onions online marks a strategic governmental move to stabilize the market after India's recent export ban on September 14 caused price hikes. With an annual demand between 2.2 and 2.5 million tons, Bangladesh saw recent imports escalate to 1.1 million tons from a previous 0.4 million tons in FY09. Minister Tipu Munshi confirmed a 600,000-ton stock, advising consumers against panic buying.
E-commerce Association of Bangladesh (e-cab) officials highlighted the adequate onion stock as key to price declines. General Secretary Mohammad Abdul Wahed Tomal emphasized this abundance, while General Manager Jahangir Alam Shobhon noted that 10,000 metric tons are being distributed online. These digital channels aim to facilitate consumer access from home. The initiative, formally launched on September 20, titled 'Onion at Home', involves various online platforms.
This government-led initiative reflects ongoing attempts to manage domestic agricultural product availability through digital engagement.
Source: Daily Sun