Nepal : Price surge hits daily goods as festival season approaches
As the festive season nears, Nepal has seen a sharp rise in food prices, with essentials like sugar, rice, and vegetables becoming significantly more expensive. Prices have surged due to increased wholesale costs, recent rains affecting supply, and halted transport. The Consumer Protection Forum criticizes the lack of effective regulatory oversight, despite the Department of Commerce’s ongoing market inspections.
KATHMANDU: As the festive season approaches, the prices of food items, vegetables, and other consumables have surged rapidly in the market.
Traders have significantly raised the prices of daily essentials to capitalize on the festival demand.
The cost of daily consumables such as rice, dal, sugar, oil, pulses, vegetables, fish, meat, and eggs has increased.
Retailers attribute these hikes to rising wholesale prices. For instance, the price of sugar has jumped from Rs 90 per kg last year to Rs 150 per kg this year.
According to the Nepal Retail Trade Association, sugar was priced between Rs 90 and Rs 95 per kg on September 11, 2023.
Consumers are now reporting prices between Rs 130 and Rs 150 per kg, says Pabitra Bajracharya, President of the Association.
Bajracharya notes that prices for many food items, including pulses, rice, and oil, have increased by 10 to 15 percent compared to the previous year.
A bag of rice (25 to 30 kg) has seen a price increase of Rs 100 to Rs 150. Prices of pulses and other oil-based items have also risen, primarily due to wholesalers raising their selling prices.
The incessant rains in recent days have further compounded the situation. Blocked road sections across the country have led to increased prices for vegetables and fruits.
Farmers report that halted traffic on key highways has caused vegetable and fruit products meant for Kathmandu to rot.
Consequently, prices at Kalimati, the largest vegetable market in the Kathmandu Valley, have surged.
Traders claim that this year’s increased rainfall has led to more significant price hikes compared to previous years.
The price of onions and garlic, essential during the festival, has also surged.
The price of Indian dried onions, which averaged Rs 70 to Rs 80 per kg last year, has now risen to Rs 125 per kg wholesale and Rs 150 to Rs 160 per kg retail.
This represents a 73 percent increase from the previous year.
Additionally, the price of Indian red potatoes has risen from Rs 35 to Rs 57 per kg, and Ghiraula has increased from Rs 45 to Rs 65 to Rs 70 per kg, according to the Kalimati Vegetable and Fruit Development Committee.
Mutton prices have also seen a significant increase, rising from Rs 45 per kg last year to Rs 65 per kg this year.
Prices for other items like ginger, tane bodi, local cauliflower, gourd, greens leaves, mushrooms, celery, parsley, lemon, pomegranate, chillies, and green coriander have also climbed.
On the other hand, the prices of broiler chicken meat and eggs have remained relatively stable.
A few weeks ago, the price of large-sized eggs rose to Rs 530 per crate, but it has now dropped to Rs 430 per crate.
Hari Krishna Lohani, President of the Nepal Poultry Market Managers’ Association, informed that the prices of eggs and chicken meat have stabilized.
However, beef and goat meat prices have reached Rs 1300 to Rs 1350 per kg.
Additionally, the price of cashew nuts has increased from Rs 1600 per kg a month ago to Rs 2100 per kg.
Regulatory body overlooks price surge during festival season
As the festival approaches, the prices of consumer goods have risen sharply, yet the government regulatory body appears to be inattentive.
Despite the increasing costs and declining quality of food products, effective monitoring remains lacking.
Bishnu Prasad Timalsina, General Secretary of the Consumer Protection Forum, criticizes the regulatory body for its inadequate oversight, allowing middlemen to exploit the festive season by inflating prices and neglecting consumer welfare.
“The pattern of traders raising prices during festivals continues this year,” Timalsina stated.
“All commodities, starting with food items, have seen price hikes, putting consumers in a difficult position. Even expired and low-quality goods are being sold during the festival.”
Timalsina points out that during major festivals like Dasain and Tihar, traders often offload old stock, leading to concerns over both quality and price.
He argues that sporadic monitoring will not effectively address these issues.
“The market cannot be regulated simply by occasional inspections,” he said.
“There needs to be consistent and organized daily monitoring.”
Department’s Response: ‘Monitoring is Ongoing’
In response, the Department of Commerce, Supply, and Consumer Protection asserts that it is conducting daily market inspections, with a focus on food item prices and quality.
“Traders may take advantage of the festive season to raise prices and compromise quality,” acknowledged Rajan Paudel, Director General of the Department.
“It is crucial for consumers to be vigilant about prices and quality during this time.”
Paudel encourages consumers to report any instances of poor-quality products or unjustified price increases to the department, emphasizing the need for public cooperation in ensuring market fairness.+
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Source Link : https://english.khabarhub.com/2024/11/396157/
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