KATHMANDU: With the rise in the price of cooking oil in the market, an artificial shortage has been created.
Taking advantage of rising crude prices in the international market and political crisis, industrialists, big traders, and middlemen have created an artificial shortage of cooking oil in the market, media reports said on Sunday.
Stakeholders have informed that they have created an artificial shortage of oil in the market and sold it at a high price.
According to the Nepal Retailers’ Association, the price of edible oil has been rising since last August.
Soybean oil prices have risen the most since the second week of August. The price of soybean oil has risen by 50 percent to Rs 225 per liter.
Nepal Retailers’ Association President Raj Kumar Shrestha said that the big traders have increased the price unnaturally after the price of raw material went up in the international market.
According to him, the price of edible oil may go up in the market within a week.
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