Nepal: Prices of edible oils surged by over 40 percent in the past four months

Published 2021년 6월 7일

Tridge summary

The prices of edible oils in Nepal have increased significantly in the past four months, with mustard oil seeing a rise of up to Rs 100 per liter, and soybean and sunflower oil prices also surging. This increase is due to a rise in the cost of raw materials on the international market. Despite this, the Department of Commerce, Supplies and Consumer Protection has not taken any regulatory action. The Nepal Vegetable Ghee Oil Manufacturers Association (NVGOMA) has pointed out disruptions in supply from India, increased prices of packaging materials, and undercapacity production as other factors contributing to the price hike.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

KATHMANDU, June 7: Prices of edible oils have skyrocketed in recent days, which according to the traders is due to an increase in the price of raw materials in the international market. As per retailers, edible oils have been dearer by up to Rs 100 per liter in the past four months. Ashok Subedi, a retailer in Panipokhari, Kathmandu, said the price of mustard oil has increased from Rs 230 per liter to Rs 330 per liter over the period. Similarly, the price of soybean oil has increased from Rs 125 per liter to Rs 225 per liter and that of sunflower oil has surged from Rs 210 per liter to Rs 300 per liter. Despite an excessive rise in prices, the Department of Commerce, Supplies and Consumer Protection—the main regulator to conduct market inspection—has remained a ‘mute spectator’ except for calling the big traders a few times for clarification. Traders, on the other hand, have attributed the soaring price of raw materials in the international market as a cause behind the rise in the ...

Source: Nagariknetwork