Cooking Oil and Rice Prices Surge in Nepal Ahead of Elections, Prompting Regulatory Scrutiny
Summary
Prices of rice and edible oil have surged in Nepal ahead of elections due to rising international raw material costs, increased demand in India, and supply shortages, prompting regulatory scrutiny.
Key Points
- Prices of rice and edible oil have increased significantly ahead of elections in Nepal.
- The Department of Commerce initiated monitoring over complaints of price hikes and shortages in edible oil supply.
- Rising international raw material prices and strong demand in the Indian market, especially due to Holi, are causing the surge and shortages.
- Nepal's dependence on imports and increased rice exports from India have contributed to the rise in rice prices.
