Cereals import increases with wheat import surge

By A Staff Reporter,Kathmandu, Nov. 8: The import of cereals has increased in Nepal during the first three months of the current fiscal year 2023/24.

According to the trade statistics of the Department of Customs, food imports have increased by 25 per cent in terms of monetary value during the first three months of the current fiscal year 2023/24 as compared to the same period last fiscal year 2022/23.

During the review period, about 262,264 tonnes of cereals worth Rs. 11.60 billion have been imported. The country imported about 198,118 tonnes of cereals worth Rs. 9.26 billion in the first three months of the last fiscal year.

Paddy import up, rice down  

Among all cereals, highest amount of paddy and rice has been imported during the review period.

The country imported rice and paddy worth Rs. 5.6 billion during the first three months of the current fiscal year. Paddy and rice worth Rs. 5.61 billion 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 79,709 tonnes of paddy worth Rs. 2.92 billion has been imported in the first three months of the current fiscal year while only 12,880 tonnes of paddy worth Rs. 387 million had been imported in the first three months of last fiscal year.

After the government of India had banned rice exports for few months since July, the import of paddy has increased for selling it making rice through processing.

However, the import of rice has dropped by 49 per cent during the review period as compared to the same period last year. Around 29,410 tonnes of rice worth Rs. 2.67 billion has been imported in the first three months of the current fiscal year.

Around 95,616 tonnes of rice worth Rs. 5.21 billion had been imported during the first three months of the last fiscal year 2022/23.

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

Wheat worth Rs. 3.11 billion imported

The import of wheat has also increased significantly during the first three months of the current fiscal year as compared to same period last fiscal year. The country imported 78,240 tonnes of wheat worth Rs. 3.11 billion during the review period.  

The import of wheat increases by 65 times during the review period as compared to same period last fiscal year.

Only 1,448 tonnes of wheat worth Rs. 48 million had been imported during the first three months of the last fiscal year.

Last year, 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 decreased by 22 per cent during the first three months of the current fiscal year as compared to the same period last year.

The country has imported 69,684 tonnes of maize worth Rs. 2.63 billion during the review period. About 82,113 tonnes of maize worth Rs. 3.40 billion had been imported in the first three months of last fiscal year.

Likewise, 8 tonnes of buckwheat worth Rs. 5.3 million and 4,973 tonnes of millet worth Rs. 243 million have been imported during the review period.