KATHMANDU, July 23: Nepal saw a sharp rise in rice and paddy imports in the Fiscal Year (FY) 2024/25. According to the Department of Customs, the country imported paddy worth Rs 20.35 billion and rice worth Rs 10.83 billion.
The spike follows the government's decision to remove advance taxes on paddy imports. In total, Nepal brought in 531.1 million kilograms of paddy, generating Rs 1.52 billion in revenue for the government.
Compared to the previous fiscal year, paddy imports increased significantly. In FY 2023/24, Nepal had imported 319 million kilograms of paddy worth Rs 12.05 billion.
Nepal imported paddy, rice worth over Rs 33.6 billion in 11 mon...
Rice imports also rose, with 165.4 million kilograms worth Rs 10.83 billion brought into the country this fiscal year. In contrast, only 39.7 million kilograms of rice worth Rs 3.53 billion were imported in the previous year.
Basmati rice made up a major portion of the imports. Nepal imported 68.7 million kilograms of basmati rice worth Rs 7.52 billion in FY 2024/25, up from 46.8 million kilograms worth Rs 6.23 billion in FY 2023/24.
The rise in both rice and paddy imports has been largely attributed to the removal of export duties and advance taxes last year.
