national food price inflation remains of significant concern. Staple food prices, including those of coarse rice and wheat,rose slightly over the past month. Nepal Rastra Bank’s March 2010 data indicates that recent year-on-year food price inflation is over 18 percent. High food prices are driving overall consumer price inflation, which is currently estimated at 12.6 percent. Because of the recent Avian Influenza outbreak in Nepalgunj and Nawalparsi districts, poultry supply has been reduced, significantly increasing the price of chicken sold in Kathmandu and other urban markets.An increase in fuel costs is making food transportation more expensive – this is likely to continue to raise food prices in coming months. In general, the price of staple food grains has remained stable or slightly increased across Nepal this month. In the markets regularly monitored by WFP and MoAC, the average price of coarse rice in March was Npr 31.5 per kilo (compared to Npr 31 last month); the national average wheat price was Npr 33 per kilo (compared to Npr 32 last month); and Blackgram was Npr 112 per kilo (compared to Npr 113 last month). National food price inflation still remains of significant concern. The most recent year-on-year food price inflation figure provided by the Nepal Rastra Bank in March was over 18 percent. High food prices are driving overall high consumer price inflation, which is currently estimated at 12.6 percent. Insubstantial tomato production has induced urban market price hikes, while hailstorms have negatively impacted the production of several other vegetable crops causing similar price increases. In March the Nepal Oil Corporation (NOC) lifted the price of fuel twice in response to increased international oil prices. The latest increase was Npr 2.5 for petrol (now 80.25 Npr/ltr) and Npr 2 for Diesel (now 61.4 Npr/ltr). In the markets surveyed by WFP, 15 percent of Hill traders and 20 percent of Terai traders told WFP field monitors that their transportation costs had increased. The main factor for this was fuel prices. The price of kerosene (used for cooking) also increased by Npr 2 (now 61.4 Npr/ltr) The wholesale price of sugar continued to increase during the past month, despite international market price decreases. Almost 40 percent of traders in the mountains paid higher wholesale prices, 21 percent in the Hills and 7 percent in the Terai.
#MarketWatch #MarketDevelopment #PriceIncrease
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Publisher:
WFP, MOAC, FNCCI/ AEC, CIPF
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(2010
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Type / Script:
Bulletin or Poster
in English
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Keywords:
MAJOR PRICE, NATIONAL FOOD PRICE INFLATION, PRICE CHANGE ,NATIONAL MARKET DEVELOPMENTS, PRICE, MARKET, PRODUCTION, CONSUMER, NEPAL OIL CORPORATION, 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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