Kathmandu. The import of rice is increasing every year in the agricultural country.
According to the Department of Customs, Nepal imported rice worth Rs 25.48 billion in the first seven months of the current fiscal year 2082/83.
Such imports were worth Rs 25.37 billion in the same period of the last fiscal year 2081/82. Although there has been a slight increase in the overall import of rice, the data shows that the import of readymade rice from abroad instead of paddy has increased significantly this year.
Compared to the previous year, the import of paddy has decreased this year while the import of rice has increased. The import of paddy amounting to Rs 14.51 billion in the same period last year has come down to 348,137 tonnes worth Rs 12.74 billion in the first seven months of the current fiscal year.
However, the import of rice has increased due to the increase in the trend of importing readymade rice instead of pounding paddy in the country. Last year, 92,751 tonnes of rice worth Rs 6.20 billion was imported, while this year 113,793 tonnes worth Rs 7.24 billion was imported.
Similarly, the import of Basmati rice has increased from 40,449 tonnes last year to 46,013 tonnes (95.12 billion).
Apart from the staple rice, the import of wheat and rice seeds has also increased unusually this year. Last year, the import of 88 tonnes (about Rs 28 lakh) of kanika has skyrocketed to 6,268 tonnes (Rs 925.94 crore) this year.
Similarly, the import of rice seeds increased from 180 tonnes last year to 210.22 million tonnes this year.
Brown rice imported 2.5 tonnes (Rs 4.48 lakh) last year, while this year around 5 tonnes (Rs 5.47 lakh) has been imported.
Although the overall import price of rice and rice has increased, the government’s customs revenue has decreased compared to the previous year. The government had collected Rs 2.31 billion in revenue from the import of these goods in the last fiscal year.
However, such revenue has decreased to Rs 1.77 billion in the same period of the current fiscal year. The decrease in overall revenue is mainly due to the decrease in the import of rice and the change in the revenue rate of rice. Last year, only Rs 1.08 billion revenue was collected from paddy imports, but this year only Rs 637.6 million has been collected.
This has not only increased the country’s trade deficit but also posed a challenge to the government’s goal of becoming self-reliant in agriculture.
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