Uncontrolled price hike of up to Rs. 100 in edible oil within a year

KATHMANDU: Students’ organizations heat up the streets when the price of petroleum products goes up by one or two rupees. However, when the prices of other daily necessities go up uncontrollably, neither the student organizations speak nor the consumers organize resistance.

Edible oil is one of the daily consumables in the kitchen. The price of edible oil, which is consumed by everyone from the rich to the poor, has been rising uncontrollably in the last one year.

The price of edible oil had started rising in 2076 BS after the downfall. The price of edible oil has gone up by Rs 100 per liter in the last one year. Despite more than 70 percent price rise in a year, the responsible bodies have not paid attention.

The regulatory body has said that it is studying the rise in oil prices. However, consumer activists have accused the government of helping the price hike.

Chairman of the Retail Trade Association Raj Kumar Shrestha said that the price of edible oil has gone up by Rs 100 per liter in a year.

“Prices of all types of edible oils, including sunflower oil, sunflower oil, soybean oil and mustard oil, have gone up,” he said. The price has gone up from Rs 40 to Rs 100 per liter.

According to Shrestha, the price of sunflower oil, which was Rs 140 per liter a year ago, has gone up to Rs 240 per liter. The price of mustard oil has gone up from Rs 240 per liter to Rs 280 per liter. Shrestha informed that soybean oil has gone up from Rs 130 to Rs 220 per liter.

Shrestha said that the customers who came to the shop were outraged that the retailers had increased the prices.

He said, “Not all consumers understand that the industry has increased prices. Some consumers have accused retailers of raising oil prices. We try our best to reach the consumers”

He claims that he used to make a profit of up to Rs 10 per 1 liter packet but now he has not been able to make a profit of even Rs 5. According to Shrestha, wholesalers have been giving oil to retailers for only Rs 5 less than the MRP.

Some time ago, the retail trade association had lodged a complaint with the Department of Commerce, Supplies and Consumer Protection alleging that the producers had increased the price of oil arbitrarily. The department had directed the oil producers to submit the reasons for the price hike. Annapurna Vegetable Pvt. Ltd. and Mahalakshmi Solvent and Refinery Pvt. Ltd. were fined Rs.3 Lakh.

Chairman of the Nepal Consumer Forum and senior advocate Jyoti Baniya said that the government has helped in increasing the prices of food items including edible oil. He has alleged that the Commerce Department has put oil on the ears where the market should be monitored.

“We have informed the commerce department several times that the price of oil has gone up,” he said. But the department is pretending not to see it . Consumers are forced to consume oil at a high price of Rs 40 to Rs 100 in a year. The traders have made the consumer’s kitchen expensive by setting prices arbitrarily due to shortage in the market. ‘

He claimed that the price hike was done with the connivance of the government. He suspects that the setting is up to the top level of oil producers.

Spokesperson of the Department of Commerce Supply and Consumer Protection Management Shivaraj Sedhai said that a study is being carried out on the price rise in the market. He said that monitoring is being carried out to find out the price of each commodity in the market.

He said that the price of crude oil used in the production of oil in the world market has gone up. He explained“We are studying that. It will be seen how much the price of raw material has gone up in the world market and what percentage of it will go up in Nepal.”

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