KATHMANDU: Rice prices have gone up after vegetables and pulses as daily essentials become dearer due to a drop in shipments. A number of retailers and wholesalers have jacked up their prices while others said the rates would go up soon.
The price of Jira Masino, a popular variety of rice, has jumped Rs50 to Rs100 per 25 kg sack. The Jira Masino rice being sold in the market now costs Rs1,450 to Rs1,850 compared to Rs1,350 to Rs1,750 earlier.
Brands like Hulas, Subhamuhurta, Shaktibhog, Ashirwad, Krishna Bhog, Urja, Maitighar, Panghat, Munna, Anguri and Mangalam have already hiked their prices while others are planning to do so in the coming days. Traders attributed the rise in prices to a fall in last year’s harvest and the off season setting in with paddy being planted in the fields.
“We actually don’t know the reason, but wholesalers have hiked prices citing short supply and rise in prices in India,” said Pabitra Man Bajracharya, president of the Retailers Association of Nepal. Bajracharya added that prices of rice varieties like Mansuli and Basmati would also go up in the coming days.
Nepal imports most of its rice requirement from India as domestic production is small. According to traders, Jira Masino is the most sought after rice in urban areas while Mansuli is preferred in rural areas among low-income families.
The country imported rice worth Rs13.74 billion in the first 11 months of the last fiscal year, recording a rise of 27 percent year on year. Most domestic mills are dependent on imported rice for their raw material.
Meanwhile, the domestic production of paddy fell 258,435 tonnes in the last fiscal year against the previous fiscal due to a weak monsoon and untimely rainfall.
“As we depend on India for rice, this rise in prices is a reflection of market trends in India. Prices are high in India itself due to low production triggered by floods, landslides and drought in various parts,” said Chandra Krishna Karmacharya, president of the Rice, Pulses and Oil Manufacturers Association.
According to traders, Jira Masino rice is imported from Uttarakhand and Haryana of India. Karmacharya added that prices could rise further this year as fields still remained barren in many parts due to lack of rain.
“The situation could worsen this year, so the government should give priority to the production of rice by providing irrigation facilities in some areas,” added Karmacharya.
