Import of paddy and rice decreased significantly during the first seven months of the current fiscal year 2023/24.

According to the trade statistics of the Department of Customs, the import of paddy and rice has decreased by 45 per cent during the review period compared to the corresponding period last fiscal year 2022/23.

The country imported rice and paddy worth Rs. 13.1 billion during the first seven months of the current fiscal year while paddy and rice worth Rs. 23.7 billion were imported during the same period last fiscal year.

Only 196,258 tonnes of paddy worth Rs. 7.42 billion has been imported in the first seven months of the current fiscal year while 362,319 tonnes of paddy worth Rs. 13.04 billion was imported in the first seven months of the last fiscal year 2022/23.

In the meantime, the country imported 55,918 tonnes of rice worth Rs. 5.58 billion in the first seven months of the current fiscal year. In the corresponding period last year, 166,486 tonnes of rice worth Rs.10.66 billion was imported.

The statistics showed that the import of rice has decreased by 47 per cent and paddy by 43 per cent during the review period as compared to the same period last fiscal year.

The country spent Rs. 36.66 billion for the import of rice and paddy in the last fiscal year 2022/23.

The increase in the production of paddy in the country and the change in the people’s rice-eating habits are believed to be the reasons for the fall in imports. Most people aged above 50 in cities tend to avoid rice in their dinner.

However, the import of wheat has increased significantly during the first seven months of the current fiscal year compared to the same period last fiscal year. The country imported 167,380 tonnes of wheat worth Rs. 6.8 billion during the review period.

The import of wheat increased by 67 times during the review period as compared to the same period last fiscal year.

Source: The Rising Nepal