The commerce ministry and directorate of national consumer rights protection are monitoring the markets regularly, he said.
Tipu also urged the traders to run their business with honesty and sincerity.
Mentioning that the government has taken necessary steps to keep the onion price stable, the minister said action will be taken if anyone found involved in raising the onion price by creating an artificial crisis.
Meanwhile, the commerce ministry has urged the National Board of Revenue to withdraw customs duty on onion import, aiming to keep its price stable in the market.
The ministry also urged the NBR to slash import duties on crude soybean oil, palm oil and sugar to cool the overheated domestic market.