The Department of Commerce and Consumer Protection has issued instructions to adjust prices after consumers complained about the recent increase in prices of rice and oil. Consumers say that the prices of daily necessities have increased as the elections approach.

The price list of the Nepal Retail Trade Association, which changes every 15 days, shows that the prices of rice and oil have increased. The association has been updating the price list once every 15 days. In the public price list on the association's website, Trishuli Pokhareli rice was 75 rupees per kilogram, but now it has reached 90 rupees per kilogram.

The price list of roasted mustard oil has now increased from 270 rupees per liter to 350 rupees, according to the association's price list. Soybean oil has now increased from 115 rupees to 220 rupees per liter, and sunflower oil has increased from 140 rupees per liter to 240 rupees. 

The association's general secretary Amulkaji Tuladhar admitted that the prices of rice and oil have increased for the past one month. 'What can we do when the prices have increased at the MRP, we will buy and sell according to the MRP,' he said, 'The producer himself will know why the price has been increased, we have not sold at more than the MRP.' 

Meanwhile, the Department of Commerce, Supplies and Consumer Protection has directed producers to adjust the natural price increase of essential commodities including edible oil, gas, rice and other essential commodities to provide relief to consumers. The department issued a press release on Wednesday, calling on food and oil producers, major importers and distributors to provide their goods or services without taking unfair profits.

‘In order to control unwanted price increases and maintain market competitiveness and market cleanliness, major producers, major importers and distributors of food and oil have been instructed to provide their goods or services without taking unfair profits and to adjust the unnatural price increases and provide relief to consumers,’ the release said. 

The department has always been committed to protecting the right of consumers to receive quality goods and services in accordance with the Consumer Protection Act, 2075 BS and the Consumer Protection Regulations, 2076 BS. The department has said that it is continuously monitoring the producers, sellers, importers, accumulators and service providers of essential and daily consumer goods and is working to make the market clean, competitive and consumer-friendly by taking the help of other competent bodies. The department has warned that some firms that act against the law will be punished according to the law. 

Entrepreneurs, on the other hand, have been saying that the price of raw materials has increased in the international market, which has also affected the price in the Nepali market. Since raw materials have to be imported from the international market, the price of edible oil in Nepal is also determined according to the business trend of that market, according to the Nepal Vegetable Ghee-Oil Producers Association. The association claims that the price increase of refined edible oil is not due to the arbitrariness of the domestic industry but due to price fluctuations in the international market. 

According to the association, since the daily price fluctuations in the international market can be viewed transparently through digital means, Nepalese wholesale traders have also been directly monitoring international prices.

The association has stated that price fluctuations in the international market are beyond anyone's control and are difficult to predict. The association says that the cost of crude edible oil has increased due to the recent increase in the price of crude oil in the international market and the continuous increase in the value of the US dollar. For this reason, domestic industries have said that they have had to make necessary adjustments to the price of edible oil and distribute it.

Rejecting the accusation that its member industries have created artificial shortages and increased prices, the association has clarified that the current price increase is a direct effect of the daily price increase in the international market.

Since the price increase in the international market coincidentally coincided with the election, the association has expressed its commitment to adjust the price and distribute it as much as possible in coordination with the Department of Commerce, Supplies and Consumer Protection, keeping in mind its sensitivity. Nepal Rice, Oil and Pulses Producers Association's executive committee member Bhiwor Agrawal said that the price of rice has been affected by the increase in the price of rice in India. He said that the increase in the price of rice is just a coincidence since it is the election season.