KATHMANDU, March 25: Imports of electric cooking utensils have jumped amid the ongoing shortage of liquefied petroleum gas (LPG) and uncertainty over the availability of fossil fuels due to the escalating tensions in West Asia.
Records from the Department of Customs (DoC) show that Nepal imported 8,231 units of ready-made infrared and induction stoves last month. While the total value of the electric stoves was more than Rs 139 million, the majority were induction stoves.
The use of induction stoves began to rise notably after the 2015 earthquake and the subsequent Indian blockade. At the time, the Chinese government provided 10,000 induction stoves as grant assistance, which the state-owned Food Management and Trading Company sold at the rate of Rs 4,000 per stove.
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In recent days, residents of the Kathmandu Valley and adjoining districts have been using electric cooking devices, citing the repeatedly disrupted supply of LPG. Likewise, the soaring prices of fossil fuels have also boosted the sale of electric kitchen utensils.
Following the war that broke out between the US and Israel with Iran, the price of crude oil has skyrocketed in the international market, rising from US $70 to around $100 per barrel. Subsequently, Nepal Oil Corporation (NOC) increased petrol prices by Rs 15 per liter and diesel by Rs 10 per liter. The state-owned enterprise has been reporting losses worth Rs 4 billion, hinting at raising fuel prices further.
The NOC has also started selling half-filled LPG cylinders to manage supply. In addition, the public enterprise says it incurs a loss of around Rs 250 per cylinder of cooking gas.
In the first eight months of the current fiscal year (FY), Nepal imported 104,717 units of induction stoves worth Rs 222.7 million, 42,218 units of infrared stoves worth Rs 76.7 million, over 212,000 units of rice cookers worth Rs 289.3 million, and 1.147 million units of electric jugs worth Rs 327.3 million, according to the DoC.
In the same period last year, the country settled import bills of Rs 469.16 million for 239,172 units of infrared and induction stoves. Most of these appliances are imported from China, while brands manufactured in India, Bangladesh, the United Arab Emirates, the United Kingdom, Malaysia, Uganda, Qatar, and Singapore are also present in the import segment.
According to traders, the cost of infrared and induction stoves ranges between Rs 4,000 and Rs 9,000 per unit in the local market. A few entrepreneurs have started selling assembled products by importing parts of the electric stoves.
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