First Business News Portal in English from Nepal
KATHMANDU: A day after India banned the export of onions the price of the vegetable has increased by 25 percent in the domestic market in Nepal.
The whole sale price of onion which stood at Rs 60 a kg on Monday has surged to Rs 75 per kg today, according to the Kalimati Fruits and Vegetable Market Development Board.
The Directorate General of Foreign Trade, India had issued a notice on Monday stating that the export of all varieties of onions is prohibited with immediate effect.
Meanwhile, retailers have already started charging over Rs 100 per kg by this evening, shared Kumari Kharel, secretary at the Forum for Consumers Right Nepal. She predicts that the price could go up by four-fold within a few days.
Kharel mentioned that the price of onions started increasing from the morning itself and it has still been rising. “Traders were not able to import the required amount of onions due to the lockdown and prices had remained on the higher side and now with the export ban in India onion price will significantly go up,” she added.
According to her, there is not enough vegetable production in the country. Despite Nepal being called an agricultural country by respective governments over the years nothing much has been done to improve the sector. “For instance, farmers have still not received the subsidies that were meant for the agriculture sector from the government,” Kharel stated.
“Many traders in the Kalimati vegetable market have startedhiding and storing onions with a motive to earn huge profits later,” she said.
Last September also, India had banned the export of onionsdue to inadequate supply in the Indian market as a result of which the price had gone up in Nepal.
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