Food is now Nepal’s next biggest dependency after fuel
Summary
Nepal's food import bill has surged to Rs434.26 billion due to rising consumer demand and remittance-fuelled purchasing power, making food the country's second major external dependency after fuel.
Key Points
- Nepal's food import bill reached Rs434.26 billion in the last fiscal year, reflecting growing dependence on imported agricultural products.
- India's export restrictions and global factors have impacted Nepal's food security, increasing reliance on imports for staples like rice and edible oils.
- Remittance inflows and migrant labor outflows are weakening Nepal's agricultural workforce, exacerbating import dependence.
- Experts warn that Nepal faces a national food security challenge and urgent need to invest in agriculture technology and reduce dependency.
