Food price inflation remains of serious concern across Nepal. According to figures recently released by the Nepal Rastra Bank, the year-on year inflation for food and beverage was 16.5 percent for May A poor food availability situation in remote Hill and Mountain markets, caused largely by the recent winter drought, has resulted in significant price increases during June. This is particularly so in Mugu, where reduced local food stocks and insufficient external supply, has resulted in a five percent increase in the price of cooking oil, a 30 percent increase in the price of rice, and a 50 percent increase in the price of beans between May and June. Due to a poor winter crop harvest, the price of potato continues to increase across much of the country, on average up by 10 percent compared to last month, and up by over 58 percent compared to last year. Sustained food price inflation remains a concern for Nepal. According to the latest figures released by the Nepal Rastra Bank, year-on-year inflation was 16.5 percent in May. Of note, sugar and sugar based products have increased by 67 percent over the year. At a national level the price of rice remained relatively stable across Nepal. However, average increases of 5 – 10 percent were experienced in the Terai, this is an early signal that prices may rise across the country in coming months.In Jumla, market prices have significantly decreased compared to last year due to increased supply. This is due largely to the completion of the Karnali Hwy to Jumla in 2007 (including works undertaken through WFP food for work programming) and increasing levels of trade in 2008/09. The price of lentils is down by 11 percent compared to last year, the price of wheat flour is down by 21 percent, and the price of coarse rice is down by 40 percent.
#MarketWatch #FoodAvailability #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:
MARKET DEVELOPMENTS, MARKETS, COMMODITIES, PRICE, LARGEST CHANGE, FOOD AVAILABILITY, SUPPLY, PRICE STABILIZATION, PRICE INCREASE
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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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