Traders Hike Price of Sugar Arbitrarily on the eve of Festive Season

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Traders Hike Price of Sugar Arbitrarily on the eve of Festive Season

October 28: Traders have arbitrarily increased the price of sugar taking advantage of the shortage of sugar faced by the state-owned companies during the festive season. The price of sugar, which was Rs 90 per kg before Dashain, has gone up to Rs 95 to Rs 100 per kg ahead of Tihar.

The price of sugar has been increased arbitrarily in collusion between big traders and middlemen. It has been found that the price of sugar varies from shop to shop. Sunaina Maharjan, who came to Kirtipur's Naya Bazaar for shopping for Tihar on Wednesday, bought 3 kg of sugar at Rs 95 per kg. Premkala Maharjan, who lives near Sunaina’s house, said that she bought 5 kg of sugar at Rs 100 per kg at a shop near her house.

Nepal Retail Trade Association blames the big traders and industrialists for the hike in price of sugar. Amul Kaji Tuladhar, general secretary of the association, told New Business Age that the retailers were forced to sell sugar at increased rate as the big traders started selling sugar at Rs 95 per kg to the retailers.

“Retailers have to sell at Rs 105 per kg to make profit. However, we have been selling sugar at Rs 95 per kg to retain our regular customers. We have heard that some traders have sold sugar for up to Rs 100 per kg but we have told the traders not to do so,” he said.

 

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