Staple food prices across Nepal remain significantly higher when compared to the same period last year. The good news is that commodity prices, however, have begun to stabilize. On the other hand, wheat, which normally decreases in cost during this period of the year has risen in price over last month because of the winter drought. Potato prices, also very high, have increased by up by 28 percent. Food price inflation in Nepal remains of high concern. Compared to 18 months ago, the price of musuro (broken lentil) has increased by nearly 50 percent, soybean oil by 32 percent and rice by 25 percent. Compared to recent months, the supply situation improved across much of Nepal due to the lifting of bandhs in the Terai. The recent joint MoAC, WFP & FAO winter drought assessment confirmed that production of the major winter crops, wheat and barley, decreased nationally in 2009 by 14.5 and 17.3 percent respectively compared to last year. Because of the poor winter crop harvest, food prices of winter crops did not decline as usual – they remained largely unchanged or increased slightly during May. For instance, blackgram increased in price by 3 percent and wheat flour and rice increased by 1 percent. Lentils also increased by 11 percent but this is likely due to rising regional prices as opposed to a poor harvest The greatest monthly price increase was for potato, up by 28 percent; the price increase was caused by reduced supplies because of poor harvests in hill and mountain districts due to drought and crop damage due to blight in the Terai. Cooking oil prices remain high, despite some gradual decline since the very high price peaks of late 2008/09. Compared to last month, mustard oil is down by 1.5 percent and soybean oil is down by 1 percent. Across Nepal sugar prices continued to increase throughout May, and were up by an average of 7 percent compared to April. This is largely due to reduced sugar production in Nepal and the broader region in 2008/09 combined with increased demand Food price inflation in Nepal remains a significant concern. Over the past 18 months musuro (broken lentil) has increased by nearly to 50 percent, soybean oil by 32 percent and rice by 25 percent.
#MarketWatch #MarketDevelopment #PriceIncrease
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Publisher:
WFP, MOAC, FNCCI, CIPF
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(2009
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Type / Script:
Bulletin or Poster
in English
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Keywords:
NATIONAL MARKET DEVELOPMENTS, MARKETS/ COMMODITIES , LARGEST CHANGE, AVARAGE PRICE, PRODUCTION, PRICES, PRICE STABILIZATION, STATEGIES, GOVERMANT, INCREASE PRICES, AVERAGE PRICES, EMPLEMENTATION
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Thematic Group:
WFP
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Food and Emergency humanitarian logistict support
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Thesaurus:
02.02.00
- Economic Conditions
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Reference Link:
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