Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: India has lifted the ban it had enforced on export of wheat to Nepal some five months ago. On Thursday, India issued a permission to import 50,000 tons of wheat.
Traders say the import of the wheat was, however, continuing in a clandestine way. Arguing that there was a sudden spike in the price of wheat in Nepal following the export ban, the businesspersons through official channels had requested the Indian government to lift the export ban enforced on wheat.
Following the request, the Foreign Trade General Directorate of India had permitted the export of 50,000 tonnes of wheat to Nepal till March 31, 2023. Nepal has been asked to provide details for the import.
Traders in Nepal were forced to buy wheat in black market as the price soared with its ban. The price had increased by 30 to 40 percent.
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