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Government restricts exports of rice and wheat

In the face of growing global food shortages and spiraling prices of food stuffs, the government has decided to restrict the export of rice, paddy and wheat.

The Ministry of Industry, Commerce and Supplies, on Wednesday, decided to ban the export of the food items, according to Secretary of the Ministry Purushottam Ojha.

“We have taken this decision in view of increasing food prices in the world market and their shortages so that we can avert any situation affecting food security in the country,” said Ojha.

From the eastern border point of Kakarbhitta, seven to ten thousand tons of wheat were being exported daily to Bangladesh.

Traders have said that in the last one month LCs have been opened to export 50,000 tons of wheat to Bangladesh.

While India has banned export of rice and wheat, the continuous outflow of food items from Nepal had affected the local market. The price of rice, wheat, flour had increased by 25 to 30 percent.

The government’s decision has come amid calls by the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) to restrict export of food stuffs.

(Source: Nepalnews)

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Author: sakinshrestha

Hello. My name is Sakin Shrestha, and I am a technology entrepreneur from Nepal. I am passionate about helping this sector grow, for many reasons. The technology sector creates jobs for many young Nepalis who would otherwise migrate to foreign countries. It lets Nepali professionals develop skills for a fast-changing global workplace, and compete at a high level with anyone, anywhere in the world. If it grows, it will provide a viable career option for many young Nepalis, and help us reap the benefits of a global economy.