The average price of staple food grains in Nepal has increased this month. In the markets regularly monitored by WFP and MoAC, the national average price of coarse rice in July was Npr 34 per kilo (compared to 33 last month); the average price of wheat was Npr 35 per kilo (compared to Npr 34 last month); and the average price of musuro (broken lentil) was Npr 109 per kilo (compared to Npr 105 last month). The average price of potato remained relatively stable at Npr 22. Price increases reflect a worsening supply situation due to impaired transportation routes (see supply section below) and may also reflect a reported tightening of trade across the Indian border (see below).Rice prices in major consumer markets have increased by around Npr 5 per kilo compared to last month, and this is reportedly related to tighter border control of Indian exports to Nepal (the export of staple grains such as coarse rice and wheat is banned by India). The significant increase in price is of great concern to consumer groups and the Government.The Government of Nepal has reportedly stepped up efforts to import 25,000 mt of rice from India. Year on year (y-o-y) food price inflation, as measured by the consumer price index, moderated to 11.3 percent in mid-June 2010 compared to 19 percent in corresponding period last] year. The moderation in inflation is primarily due to a better winter harvest this year compared to last. However, sustained double digit food price inflation is still concerning, particularly as food price increases are highest for staple food items suchas grains and cereal products (14.1 percent inflation).
#MarketWatch #MarketDevelopment #PriceIncrease
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Publisher:
WFC, MOAC, FNCCI, CIPF
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(2010
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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, NATIONAL FOOD PRICE INFLATION, MONSOO RAIN, LARGEST DECREASE, LARGEST INCREASE IN PRICE
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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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