Country exported cooking oil worth Rs 56 billion in eight months

Kathmandu, March 26: Nepal has exported cooking oil worth about Rs 56 billion in the last eight months.    

The export of processed edible oil has increased significantly. Nepal has been importing raw materials from abroad and processing it before selling.   

As per the foreign trade data released by the Department of Customs till Mid-March of the current fiscal year, imports have increased by 11.20 per cent and exports by 57.20 per cent this year compared to the same period of the previous fiscal year.    

It means that compared to last year, edible oil has seen a much larger share in Nepal's exports this year. In the last eight months, Nepal's exports were worth Rs 158 billion and of this, export of soybean oil alone comprised Rs 47.94 billion.    

Similarly, sunflower oil worth Rs 7.98 billion, cardamom worth Rs 5.83 billion and carpets worth Rs 4.32 billion have been exported.    

According to the Department, the country has incurred a deficit of Rs 987.39 billion in foreign trade during the second quarter of the current fiscal year. The total foreign trade of the country was worth Rs 1 trillion 303 billion and 738 million during this period.    

In the last eight months, goods worth Rs 1 trillion 145 billion and 56 million have been imported and goods worth Rs 158.17 billion have been exported.    

Nepal has suffered a trade deficit of Rs 563.67 billion with India in eight months. Imports from India amounted to Rs 688.68 billion from July 16, 2024 to Mid-March 2025, while exports to that country were worth Rs 125 billion only.    

Similarly, Nepal has suffered a trade deficit of Rs 21.70 billion with China as Nepal's imports from its northern neighbour were worth Rs 219.18 billion and exports a mere Rs 2.12 billion.    

Nepal's trade deficit with Argentina, Ukraine, United Arab Emirates and Australia is also high.  

  
The import of petroleum products is high during this period. In the last eight months, Nepal imported diesel worth Rs 78.86 billion, petrol worth Rs 42.80 billion and LPG worth Rs 41 billion.    

Similarly, electric vehicles worth Rs 9.69 billion and other vehicles worth Rs 2.11 billion were imported. According to the Department's data, one million 407 thousand and 78 smart phones worth Rs 21.91 billion were also imported during the period.    

During this period, Nepal is in profit in trade with 34 countries. Nepal is in profit in foreign trade with Afghanistan, Denmark, Russia, Austria and Maldives, among other countries.(RSS)