Money
Vegetable prices drop on ample supply
Traders say this trend may continue until output starts falling due to rain in the pre-monsoon season.
Post Report
The wholesale price of most vegetables has dropped by up to 66 percent from a month ago, due to ample supply in the market. Traders say this trend may continue until output starts falling due to rain in the pre-monsoon season.
According to the Kalimati Fruits and Vegetable Market Development Board, the wholesale price of tomatoes, onions, radishes, green peas, French beans, smooth gourds, okra, barela (balsam apple), green broad beans, mushrooms, cucumbers, ginger, and garlic has fallen over the past month.
The price drop is attributed to the peak season for winter vegetables and the normalisation of production, according to Binay Shrestha, an information officer at the board, which oversees Nepal's largest vegetable wholesale market in Kalimati. Winter vegetables will gradually phase out, and rainy-season vegetables will begin to arrive.
“Rainy season vegetables, including beans, bitter gourd, and bottle gourd, will start appearing in the market by May-end,” Shrestha added.
Traders say vegetable prices may rise during the transition in the crop season. While seasonal vegetables are available year-round, those specific to a season are cheaper and taste better.
The wholesale price of large (Nepali) tomatoes dropped 66.67 percent to Rs18.33 per kg, while large (Indian) tomatoes fell 18.18 percent to Rs45 per kg, and small (Tarai) tomatoes declined 5.26 percent to Rs18 per kg.
In retail, local tomatoes are priced Rs50-55 per kg, while large tomatoes sell for Rs100-110 per kg. The wholesale price of onions fell 28.57 percent to Rs50 per kg, and retail prices range from Rs90 to 100 per kg.
Green peas' wholesale price decreased by 10 percent to Rs45 per kg, with retail prices ranging between Rs110 and 120 per kg.
The wholesale price of French beans (local and hybrid) dropped 10 percent to Rs45 per kg, while the price of French beans (rajma) fell 21.05 percent to Rs75 per kg.
The wholesale price of bottle gourd fell 30 percent to Rs35 per kg, though it is priced at Rs100-110 in retail.
The wholesale price of smooth gourd plummeted 60.87 percent to Rs45 per kg.
The wholesale price of okra dropped 9.52 percent to Rs95 per kg, with retail prices reaching Rs170-180 per kg.
The wholesale price of barela shrank 4.18 percent to Rs38.33 per kg, while retail prices are around Rs80-90 per kg.
The wholesale price of green broad beans fell 57.43 percent to Rs27.67 per kg, but they sell for nearly Rs100 per kg in retail.
Wholesale button mushrooms come cheaper by 23.44 percent to Rs326 per kg, with retail prices ranging from Rs490-495 per kg.
Broccoli wholesale prices decreased by 22.22 percent to Rs35 per kg, while retail prices range from Rs100 to 110 per kg.
The wholesale price of cucumbers (local and hybrid) decreased by 55 and 50 percent to Rs 45 and Rs 20 per kg, respectively, with retail prices at Rs92 per kg.
Ginger’s wholesale price fell by 21.74 percent to Rs90 per kg, but it is priced at over Rs200 per kg in retail.
The wholesale price of dry garlic (Chinese) declined by 6.90 percent to Rs270 per kg, and Nepali dry garlic fell by 22.41 percent to Rs225 per kg. Retail garlic prices are between Rs350-360 per kg.
On the other hand, the wholesale price of potatoes (red), carrots (local), cabbage, cauliflower (local), long eggplants, sword beans, squash (long and round), green leafy vegetables, chilli, capsicum, and coriander increased over the past month.
The wholesale price of potatoes rose by 2.09 percent to Rs32.67 per kg, and retail prices are between Rs60-70 per kg.
Cabbage’s wholesale price surged by 76.70 percent to Rs17.67 per kg, with retail prices ranging from Rs40-45 per kg.
The wholesale price of cauliflower (local) increased 43.31 percent to Rs17.67 per kg, while retail cauliflower costs Rs65 per kg.
On Thursday, Kalimati Fruits and Vegetable Market received 718 tonnes of vegetables and fruits, including fish. A month ago, the market received 629 tonnes of vegetables and fruits.
According to Nepal Rastra Bank, the year-on-year consumer price inflation stood at 4.16 percent in mid-February, compared to 5.01 percent a year ago.
Food and beverage inflation stood at 4.95 percent, while non-food and service inflation was 3.74 percent for the review period.
Inflation on vegetables increased by 7.56 percent during the review period.