Price of edible oil increases

By A Staff Reporter Kathmandu, May 24: The price of edible oil has gone up significantly in the market over the days. The price of edible oil has gone up by up to Rs. 50 per litre in the last one week, said Amul Kaji Tuladhar, general secretary of Nepal Retailer Association.

He said that the price of edible oil has increased by Rs. 30 to Rs. 50 per litre in different varieties of edible oil available in the market in a week. The price of mustard oil, which was Rs. 330 per litre a week ago, has now reached Rs. 370 per litre, he informed.

Similarly, the price of sunflower has gone up by Rs. 50 per litre to Rs. 370 and soybean oil by Rs. 30 per litre to Rs. 320 in a week. "We, the retailers, have not raised prices, we are selling commodities based on the purchase price from wholesalers and industries,” he said.

He said that they have been forced to increase the price as the price has gone up from the industry.

“The claim of the wholesalers to hike the price of pulses and oil is not reliable in this context as there is no dearth of supply of essential goods in the market at present. The wholesalers are trying to take advantage on the pretext of international situation,” he said.

He said that it is natural to raise the price of edible oil and other commodities based on the price hikes of petroleum products but the present price hike is not natural.

“We are shocked about the unnatural price hike of commodities, especially edible oil for the last few days. The industries have increased the price of edible oil immediately in the local market when they heard the price increased in the international market,” he said.

He asked the government bodies to identify over the unnatural price hikes of goods and take action against those who increased prices artificially. “The wholesaler said that the price of oil in stock and other commodities is enough for six months. But they increased the price in stocked goods, which is unethical,” he said.

According to him, retailers do not want to sell oil because retailers have been accused of raising prices themselves.

Secretary of Tuladhar said that the price of pulses and lentils has also increased significantly in the retail shops due to the monopoly of the wholesalers and the suppliers. 

Assistant Information Office of the Department of Commerce, Supplies and Consumer Protection Dhaneshwor Poudel said that they have found that the price of edible oil and other imported goods has increased due to international reasons.

“Oil price has been rising continuously for the last few months due to the effect of the supply shortfall caused by Russia-Ukraine war as Ukraine is the main supplier of sunflower and mustard oil,” he said.

In the meantime, appreciating dollar and price hikes of petroleum products have contributed to increased price of imported goods, he said.

He, however, said that they have found that some traders are selling goods by hiking prices unnaturally by taking advantage of short supply.

“The statistics showed that the price of edible oil has gone up by up to Rs. 70 per litre in four months since January. We are looking at whether this price hike is natural or unnatural,” he said.