Millers increase sugar price in Nepal

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Kathmandu: According to the local media reports, citing a shortage of sugar, the mills in Nepal have raised the prices of a commodity by Rs 8 per kg.

According to the traders the sugar now costs Rs 86 per kg at factory price from Rs 76 per kg last week.

Total of 10 sugar mills are operating in the country. The import of the commodity has lowered due to the prohibitory orders in the country. The government had increased the customs duty on sugar import to 40% from 15%. The millers had stated that they are producing enough sugar and are not able to sell it due to the import of sweetener.

As per a news report published in Myrepublica, Roshan Shrestha, a wholesaler from Gairindhara said that when the import was halted, now the millers are saying that they are running out of stock and have raised the prices. The cane crushing for the ongoing season has just concluded and mills should have sufficient stocks to cater people needs.

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