December to see no changes in price hike
Food prices are likely to remain stable or increase in December with the start of the off-season for most cereal crops, according to a report.
Prices of imported commodities are expected to remain high or increase due to the appreciation of the US Dollar against the Nepali Rupee, said the Market Watch jointly produced by the World Food Programme, Nepal; Department of Agriculture, Agribusiness Promotion and Marketing Development Directorate; Federation of Nepalese Chamber of Commerce and Industries/Agro Enterprise Centre and Consumer’s Interest Protection Forum.
“The overall summer crop production in 2013 is expected to be better compared to last year,” it said, adding that it will help to enhance the country’s national food balance in the current fiscal year 2013-14.
However, chicken became the most expensive in November, as the price increased by 12.4 per cent on month-on-month basis. Likewise, the retail prices of most of the food commodities like wheat flour and red potato also increased by three per cent and 8.2 per cent, whereas black gram and broken lentil price went up by 0.1 per cent and 0.6 per cent, respectively. Coarse rice price, but declined by two per cent due to the increased supply from the recent harvest.
Compared to three months earlier, the price of coarse rice, wheat flour, red potato and chicken meat showed an upward trend, while the price of pulses and edible oils showed a downward trend, it added. “However, compared to the same period last year, the price of most food commodities, except edible oils, showed an upward trend.
Price trends in regional markets followed the national trend, with an upward trend in the price of wheat flour and broken lentil and a declining trend of the price of coarse rice, the monthly report added.