Burmese traders are losing money as a result. Bangladesh raises onion import tax.
As a result of raising tariffs on imported onions to assist farmers in Bangladesh in growing onions during the open season, Burmese traders on the Maungdaw border are experiencing losses.
According to a Maungdaw trader, “their farmers are giving priority to their farmers by raising taxes on imported onions to get a better price” during the onion-growing season.
The tax was previously raised to 3 Bangladeshi taka for each kilogram of onion, but it is now 5 taka per taka.
The Maungdaw Border Traders’ Association’s vice-chairman, Aung San Thein, stated: Exports are not profitable for traders. On the other hand, it is said that traders in Bangladesh have established committees with six members.
It will be easier for traders, according to traders, if the Burmese side can establish a seller market to expand border trade between Myanmar and Bangladesh.
“It would be beneficial if traders over there could permit traders to purchase here. Even though prices are low, it is difficult to bring them back here, and traders on this side are suffering as a result. Now they must sell to other nations. A border merchant stated.
According to Maungdaw traders, the Maungdaw border trade point shipped 1,878,000 kilograms of onions to Bangladesh in December 2021, for a total value of $413,360 US dollars.