First Business News Portal in English from Nepal
KATHMANDU: Salt Trading Corporation(STC) has awarded a contract to import 20,000 metric tons of sugar to an Indian company called Renuka Sugars.
According to the corporation, it has awarded the contract to Renuka Sugars as it was the lowest bidder among the three companies that had applied for the tender issued by the corporation for the second time.
Last year too Renuka Sugars had imported 10,000 metric tons of sugar after being awarded a contract by Salt Trading Corporation. According to Information Officer at STC, Kiran Rajbhandari, the company had imported 20,000 metric tons of sugar by mid-October last year.
The company had proposed to import sugar at $416 per ton, which was the lowest rate submitted among the three companies, according to Rajbhandari.
Since there is shortage of sugar in the market its price has skyrocketed at present. While sugar was being sold at Rs 73 per kg a few weeks back it now costs up to Rs 95 per kg due to the shortage.
With the shortage of sugar in the market, the Cabinet meeting that was held in the last week of July had decided to approve the import of 30,000 metric tons of sugar. Of this total, STC was assigned to import 20,000 metric tons while Food Management and Trading Company Ltd was authorized to import the remaining 10,000 metric tons.
Meanwhile, Food Management and Trade Company has said it will import sugar by Tihar whereas Salt Trading Corporation has claimed it will import its quota of sugar before Dashainso that there is no shortage during the festive season.
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