KATHMANDU, Sept 23: The government has cautioned traders not to create artificial shortages to hike sugar prices ahead of the upcoming festivals.
According to the Department of Commerce, Supplies and Consumer Protection (DoCSCP), there is an estimated 75,000-80,000 tons of sugar in stock with the government enterprises and traders. Based on the consumption of around 25,000 tons of sugar during Dashain and Tihar festivals, the quantity will be sufficient to meet the domestic demand until mid-December.
Traders are suspected to have created artificial shortage of su...
Shiva Raj Sedhai, spokesperson of the DoCSCP, said importers have informed that they have a stock of sugar sufficient for the next three months. “There is no reason to hike the prices of sugar ahead of the festivals,” Sedhai said.
According to him, the retail price of sugar stands at Rs 87 per kg in the domestic market. The Salt Trading Corporation has been selling the sweetener at Rs 78 per kg while the importers and sugar mills have been selling their products at the wholesale rate between Rs 80-85 per kg. “Anyone found charging more than Rs 87 per kg will be subjected to legal action,” Sedhai said.
