KATHMANDU, July 30: Prices of essential commodities in the market have seen a drastic rise in the period of a month. Prices of daily commodities like rice, pulses, vegetables and edible oil have increased up to 60 percent over the period.
Similarly, other commodities like sugar, refined flour, beaten rice, gram and peas have also undergone significant price rise over the period. Price of refined flour has increased in the range of Rs 325 to Rs 375 per 50 kg sack over the period, according to retailers.
Also seeing price rise over the period were edible oil varieties like soybean oil, mustard oil and sunflower oil. Soybean oil has become dearer by Rs 10 to Rs 12 per liter, while the price of mustard oil has increased by Rs 5 to Rs 7 per liter.
Sona Mansuli - one of the popular rice varieties in Nepali households - has increased by Rs 350 per 30 kg bag. Similarly, price of green pea has increased by Rs 4 to Rs 8 per kig, according to retailers.
The skyrocketing prices of essential commodities have not only invited difficult situation for people but has also raised questions regarding the effectiveness of government´s pricing and monitoring policy.
“Though the price of essential commodities have increased by as much as 60 percent, nothing has been done to lower the prices which is making life difficult for general consumers,” Krishna Man Shrestha, president of Grocers´ Association of Nepal, said, addressing an interaction on Thursday.
“There is a very slim chance for the price to go down as the government neither has proper price monitoring policy nor is able to arrange for suitable situation for the import of the essential commodities.”
Shrestha further added that it is high time the concerned authorities intervened the market to control price hike. The situation is so worse that the government does not have even a price fixation center. As a result, middlemen are taking advantage of the situation by fixing market prices themselves without any justifiable reasons.
Factors such as insufficient domestic production, ever increasing transportation cost, weak import policy and artificial scarcity of edible commodities are some of the major problems contributing toward the price hike in the market.
“Lack of proper price control policy of the government is leading the price rise in the market,” said Surendra Bir Malakar, president of Nepal Chamber of Commerce, adding that the government must adopt a strong policy to monitor market prices of essential commodities.
“Before fixing the prices, the concerned authority should clearly explain the reason behind rise in prices to bring transparency in the market. This will discourage the tendency of fixing prices haphazardly and will also help control the unnatural price hike,” Shrestha said.
The recent tendency of businessmen to compensate for their personal risks through price hike is worsening the scenario for the consumers.
“Smooth supply of commodities and a clear policy on fixation of profit margin for retailers can help make the market consumer-friendly,” said Pabitra Bajracharya, president of Nepal Retailers´ Association.
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