The TCB also reported an increase of 4.65 percent in the prices of soybean, 9.68 percent of chilies, 12 percent of chicken and 2.85 percent of garlic.

The commerce ministry held a meeting yesterday, chaired by Commerce Minister Amir Khosru Mahmud Chowdhury, to review the TCB report and take steps to check this rise in prices ahead of Ramadan.

The meeting suggested withdrawal of the 29.5 percent import duty on onion and lowering the Letter of Credit (LC) margin to 25 percent from the present 50 percent.

The proposal was sent to the finance ministry, the National Board of Revenue (NBR) and the Bangladesh Bank (BB).