Kathmandu, September 26
As Nepalis are waiting for their biggest festival of Dashain, traders have hiked the price of daily consumables including flour an cooking oil.
Retailers say the prices have skyrocketed in past 10 days. For example, a kilo of refined wheat flour would cost Rs 45 around 10 days ago, now it costs Rs 55. Likewise, the price of non-refined wheat flour has increased by Rs 10 to reach Rs 50.
A litre of soyabean oil costs Rs 140, sunflower oil Rs 150 and mustard oil Rs 160 currently, according to the Vice-President of Nepal Retailers Association, Ram Krishna Manandhar.
He says the retailers are forced to increase the price as they have to buy the products from the wholesalers at the increased rate.
Traders say low valuation of Indian rupees in comparison to the US dollars increased the price of products in India, and it also left an impact on the Nepali market.
It is likely that the prices will further shoot up as some traders get engaged in blackmarketing as the festival comes closer.
Meanwhile, the price of sugar has also increased as the government imposed a limit on the import so as to promote domestic sugar industry, according to the traders.
A kilo of sugar in the retail market costs Rs 80, which is Rs 5 more than the price around 15 days ago.
