Cereals import doubles in first month of current FY 2023/24

By Laxman Kafle,Kathmandu, Aug. 30: Despite the government of India having adopted export restriction measures on food items one after another, the import of cereals has increased in Nepal in the first month of the current fiscal year 2023/24.

According to the trade statistics of the Department of Customs, food imports have increased by above 110 per cent in terms of quantity and 94 per cent in monetary value during the first month of the current fiscal year 2023/24 as compared to the same period last fiscal year 2022/23.

During the review period, about 167,000 tonnes of cereals worth Rs. 7 billion have been imported. The country imported about 79,200 tonnes of cereals worth Rs. 3.6 billion in the first month of the last fiscal year.

Paddy import soars though rice import drops

The highest amount of paddy and rice has been imported during the review period.

The country imported rice and paddy worth Rs. 4.25 billion during the first month of the current fiscal year. Paddy and rice worth Rs. 2.42 billion were imported during the same period last fiscal year.

The import of paddy has significantly increased during the review period as compared to the same period last year.

Around 75,675 tonnes of paddy worth Rs. 2.77 billion has been imported in the first month of the current fiscal year while only 6,619 tonnes of paddy worth Rs. 195 million had been imported in the first month of last fiscal year.

After the government of India has banned rice exports since July, the import of paddy has increased for selling it by husking.

However, the import of rice has dropped by 34 per cent during the review period as compared to the same period last year. Around 19,700 tonnes of rice worth Rs. 1.48 billion has been imported in the first month of the current fiscal year.

In the first month of last fiscal year, around 41,800 tonnes of rice worth Rs. 2.23 billion had been imported.

The country had spent Rs. 36.66 billion for the import of rice and paddy in the last fiscal year 2022/23.

Wheat import up 

There had been no wheat import during the first month of the last fiscal year 2022/23. But in the first month of the current fiscal year, around 39,600 tonnes of wheat worth Rs. 1.58 billion has been imported.

Nepali industries were in trouble as India imposed restrictions on wheat exports and increased customs duties. In the last fiscal year 2022/23, wheat worth Rs. 280 million had been imported.

In the meantime, the import of maize has slightly decreased during the first month of the current fiscal year as compared to the same period last year.

The country has imported 29,900 tonnes of maize worth Rs. 1.04 billion during the review period. About 29,100 tonnes of maize worth Rs. 1.11 billion had been imported in the same period last fiscal year.

Likewise, 18 tonnes of buckwheat worth Rs. 1.22 million and 1,960 tonnes of millet worth Rs. 95 million have been imported during the review period.