Rice import in the country has increased by Rs 17.82 billion compared to last year.
The Ministry of Agriculture and Livestock Development has imported Rs 38.94 billion worth of paddy till the end of May of the current financial year, compared to Rs. Mahanand Joshi, Information Officer of the Ministry informed that due to the increase in the import of paddy and rice worth more than three billion rupees every month, it is estimated that the import of more than three billion rupees will be done by the end of June.
Due to the fact that the Indian government has reduced the export tax imposed on its industrialists for a few years, the import has increased due to its negative impact and the import has increased in Nepal due to the fact that the paddy and rice, which has been in the buffer stock for three years, have been available at a relatively cheap price.
According to the ministry, rice imports worth Rs. 17 billion and 78 million have been imported in the 11 months of the current year. During the same period last year, rice worth Rs 12.43 billion was imported. It is estimated that the trade deficit will be more negative due to the increase in import of goods from foreign countries.
According to Joshi, the information officer of the ministry, there is a demand of about 7 million metric tons of rice in the country, but about 6 million metric tons of rice is produced domestically. About 1 million metric tons of inadequate rice is being imported. When the domestic production cannot meet the demand of rice, it is imported to ease the supply .
In order to increase agricultural production and replace imports, experts say that there is a need for policy reforms in this area, including providing fertilizers, seeds, irrigation facilities, and subsidies to farmers on time.
