Nepal’s foreign trade hits US$14 billion, driven by edible oil re-export boom

oil, sunflower oil, and palm oil soared by 1,537 percent—more than 15 times—compared to the previous fiscal year. This rise in edible oil exports has also reshaped Nepal’s trade dynamics. Argentina has emerged as Nepal’s third-largest trade partner, replacing the United States, primarily due to the spike in imports of crude edible oil. The import surge was also driven by increased food and cereal imports from India after it lifted its ban on several commodities, particularly rice and wheat. In the last fiscal year, Nepal’s imports totalled Rs1.80 trillion, a 13.25 percent increase year-on-year. Exports jumped by 81.8 percent to Rs277 billion in the same period. A closer look at the data shows that edible oils accounted for nearly half of Nepal’s total exports. Of the Rs277.03 billion worth of exported goods, refined edible oils contributed Rs121.53 billion. The remaining Rs155.5 billion came from all other products combined. Nepal exported 576,563 tonnes of refined soybean, ...