Bangladesh To Raise Its Onion Imports To Stablize Domestic Market

 Bangladesh has been the prominent importer of onions over the years. For the past few years, Bangladesh's onion production has been affected. That resulted in the price hike in the domestic market. Another main reason was the halted supply of onions from India. That resulted in the hike in onion prices in the Bangladesh market.

The prices of onions had reached to TK100-200 per kg which was TK 20-30 per kg. The government has taken the adequate step to enhance onion production. Last year onion production in Bangladesh reached 2.4 to 2.8 million tonnes. According to the experts, it will increase by 35% this year and could become 3.4 million this year.

As per Bangladesh import data reports, around 572 million worth of onions were imported during the financial year 2021-22. The major exporters of onions to Bangladesh were India, Turkey, Myanmar, Pakistan and New Zealand.

According to the Bangladesh import export data reports, India exported onions to Bangladesh worth 148 million dollars during FY 22. While Turkey, Myanmar, Pakistan and New Zealand had 3.7%, 3.5%, 0.4%, 0.3% respectively.

Production wise, Bangladesh is the 8th largest producer of onions globally. In terms of exports, Bangladesh exports recorded to be 32K dollars with a decline of 51%. According to the India export data records, the top onion export companies from India to Bangladesh were Anandi Global Agro, International Trading, and Kamdhenu Agri Industries. Bangladesh export data reflects that Singapore, Malaysia, UAE and Saudi Arabia were the major imports of onions from Bangladesh. 

Bangladesh is the 24th largest vegetable importer in the world. India is the largest supplier of vegetables to Bangladesh followed by Canada, Australia, Brazil and the United States. Bangladesh customs data suggests that the country's vegetable imports were 7 billion dollars during FY 2021-22. India shares a major portion of Bangladesh Vegetable imports. Currently, India holds over 50% share of total Bangladesh vegetable imports. These include cotton, rice, wheat, sugar, spices,fruits, vegetables, mustard seeds, etc. Fresh grapes, Ginger, Onions, Sugar, Maize, Rice, Cardamoms, Apples and Vegetable seeds have seen significant increase in Bangladesh imports from India.

On the other hand, Bangladesh vegetable exports were estimated around 160 million dollars in 2021. Saudi Arabia, Malaysia, Nepal and the United Kingdom were the top importers of vegetables from Bangladesh. Some of the most exported vegetables from Bangladesh are Gourds, Beans, Chilli, Papaya and Green Vegetables.

Through Exim Global import export data Platform, Bangladesh vegetable buyers and suppliers can access growth opportunities in the global market. Here, companies can find the top vegetable exports, imports by hs code, country, importer, exporter, ports, etc. Along with that they can analyze product prices, unit, quantity that will help making better business decisions regarding product pricing, production quantity evaluation and financial risks. 

Bangladesh vegetable importers and exporters can raise their revenue from the international market with the help of import export data reports of over 200+ countries. Revolutionalize your business with the help of Exim GTIS market research tool. It is the most affordable tool available in the market.