Rising costs, sluggish sales dampen Tihar ambiance
Summary
Rising prices and weak consumer demand are dampening Tihar shopping, with dried fruit sales falling and decorative light sales declining across Nepal. Flower supplies, however, are sufficient this year as domestic production has strengthened and prices of garlands have eased.
Key Points
- Dried fruit prices have surged ahead of Tihar, with pistachios rising to Rs. 4,000 per kg and overall sales dropping by 20 to 25 percent.
- Imports of dried fruits fell in volume by 43 percent in the first quarter of the current fiscal year, even as Nepal spent billions of rupees on these goods.
- Sales of decorative lights are also weak, with traders blaming durable imported products, slower house construction and reduced demand.
- Flower production has improved sharply, making Nepal nearly self-reliant for Tihar garlands and helping keep prices lower than last year.
