The government will permit onion imports if prices in the local market do not ease within this week, Commerce Adviser Sk. Bashir Uddin said on Sunday, citing concerns over supply shortage.

Speaking at a press briefing at the Commerce Ministry, the adviser said the ministry has already received 2800 import applications.

If the prices don’t come down, we will allow those imports,” he said.

Responding to a question about possible manipulation or syndication behind the sudden price hike, the adviser said, “Show us where the syndicate is — we’ll take action using our full authority.”

He noted that market monitoring is underway, with the Directorate of National Consumers’ Right Protection and the Bangladesh Trade and Tariff Commission continuing their surveillance.

It’s not that anything has happened to justify a Tk 40–50 per kg increase within a week,” the adviser said. “Allowing imports now would have an adverse impact on the overall market economy. New onions will hit the market within two weeks.”

Commenting on recent soybean purchase deals by several companies with the United States, the adviser said private importers found the US market more advantageous than Brazil, prompting them to source from there.

When asked whether the US soybean purchase would impact edible oil prices, he clarified that the contracts mainly involve soybean seeds — which yield about 25% oil, with the rest used for animal feed. “The focus here is more on feed than oil,” he said.

Notably, onion prices have nearly doubled in the past two weeks, soaring from Tk 60–70 per kg to Tk 110–120 in retail markets.