First Business News Portal in English from Nepal
KATHMANDU: Kathmandu has witnessed a decline in the price of Indian onions following the introduction of Chinese onions into the market. In mid-December, the wholesale rate for Indian-imported onions stood at Rs. 160 per kg, but it has now dropped significantly to Rs. 85 per kg.
According to the Kalimati Fruits and Vegetables Market Development Board, as of Sunday, onions were being traded at Rs. 85 per kg. This substantial reduction in prices comes after a period of soaring onion costs in Nepal, triggered by India’s decision to halt onion exports to various countries, including Nepal, in mid-December. Despite the ban, Indian onions continued to be available in the market.
The Board reports a daily influx of approximately 80 metric tons of Indian onions, while the contribution of Chinese onions stands at a modest seven metric tons. Binaya Shrestha, the information officer of the Board, explained that the decrease in the price of Indian onions is attributed to the entry of Chinese onions, even though the volume of Chinese onions in the market is relatively small.
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