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The price of gold has dropped by Rs 500 per tola in the domestic market on Tuesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 160, 000 per tola today. It was traded at Rs 160, 500 per tola on Monday.

Similarly, the price of silver has dropped by Rs 15 and is being traded at Rs 1,925 per tola today.

Due to incessant rainfall, the supply of fresh vegetables in Kathmandu has drastically reduced. According to data from the Kalimati Fruit and Vegetable Market Development Committee, the daily import of 600 to 700 tons of vegetables has now been limited to 150 tons. As the supply decreases, there are signs that prices will rise.

On Sept 27, 571,912 kilograms of vegetables were imported to Kalimati, the main market for vegetables brought in from outside. However, on Sept 28, only 156,992 kilograms of fresh vegetables arrived, marking a 72.56 percent reduction. Binay Shrestha, the Information Officer of the Kalimati Fruit and Vegetable Market Development Committee, stated that while the usual daily intake is around 700 tons, it has now dropped to just 100 to 150 tons.

He explained, “The demand from consumers remains the same, but when the supply weakens, prices are naturally affected. The prices of fresh vegetables have increased, though the prices of potatoes and onions have not risen as much.” Shrestha added that if the shortage persists, prices will continue to be impacted.

Which vegetable supply has decreased?

In the Kalimati market, the supply of small tomatoes, red potatoes, dried onions, cabbage, brinjal, beans, bitter gourd, sponge gourd, okra, spinach, mushrooms, cucumber, ginger, chilies, and green coriander has significantly decreased.

Compared to the previous day, these vegetables have seen reductions of up to 96.77 percent. Capsicum is in particularly short supply. On Sept 27, 1,550 kilograms of mutton chilies were brought to Kalimati, but only 50 kilograms arrived on the 28th, with the average price at Rs 125 per kilogram.

With the reduced supply in Kalimati, a wider shortage has begun. In addition to fresh vegetables, the entry of red potatoes and dried onions has also fallen, with decreases of 67.21 percent and 63.17 percent, respectively. The wholesale price of red potatoes now averages Rs 78 per kilogram, while dried onions are priced around Rs 119. The supply of small tomatoes has dropped by 4.66 percent, with only 14,625 kilograms being imported, compared to 15,340 kilograms the previous day. Its price has risen to Rs 100 per kilogram.

Other fresh vegetables have seen similar declines: cabbage by 93 percent, brinjal by 86.40 percent, peas by 75.22 percent, chickpeas by 54.33 percent, sponge gourd by 95.14 percent, okra by 91.16 percent, spinach by 35.66 percent, mushrooms by 87.83 percent, cucumber by 90.17 percent, ginger by 40 percent, and green coriander by 94.33 percent.

Despite these reductions, the supply of snake gourd, green pumpkin, chayote, tofu, and green chilies has increased at a good pace. With these vegetables in peak season, their prices remain relatively low. Green pumpkin, for instance, is being sold at wholesale prices of Rs 50 to Rs 60 per kilogram.

Minister’s directive to collect data on agricultural damage

Agriculture and Livestock Development Minister Ramnath Adhikari has directed ministry officials to formulate a new strategy after assessing the damage caused by recent floods in the agricultural sector.

In an emergency meeting held at the Ministry of Agriculture and Livestock Development on Sunday, the minister urged the swift collection of data on the damage inflicted by Saturday’s floods.

The minister emphasized, “It has been reported that the floods have severely impacted agricultural production, and this needs to be addressed.” The ministry has decided to promptly gather accurate data on the damage and develop a corresponding strategy.

The Nepal Stock Exchange (NEPSE) gained 44.45 points to close at 2,508.86 points on Monday.

Similarly, the sensitive index surged by 6.45 points to close at 451. 34 points.

A total of 9,717,959-unit shares of 319 companies were traded for Rs 3. 71 billion.

Meanwhile, CEDB Hydropower Development Company Limited (CHDC) was the top gainer today, with its price surging by 10. 00 percent.

Likewise, Prabhu Select Fund (PSF) was the top loser as its price fell by 9.36 percent.

At the end of the day, total market capitalization stood at Rs 3. 98 trillion.

Real-Time Gross Settlement (RTGS) transactions increased significantly in the first month of the current fiscal year 2024/25 (mid-July to mid-August), a recent study report of the Nepal Rastra Bank  (RRB) shows.

A total of 74,380 individuals conducted RTGS transactions worth Rs 1080.3bn during the review month. This is an increase of 65.13 percent compared to total RTGS transactions of Rs 654.11bn in the previous month (mid-June to mid-July). The number of transactions between mid-July to mid-August (2.86m), however, was lower compared to mid-June to mid-July when 2.98m RTGs transactions were conducted, Monthly Payment Systems Indicators Report of the central bank shows.

RTGS refers to a funds transfer system in which the transfer of funds between one bank and another takes place in ‘real time’ and on a ‘gross’—transaction by transaction—basis.

During the first month of 2024/25, people withdrew Rs 87.87bn from ATMs, a slight decrease compared to Rs 91.26bn withdrawn by 11.21m people in the previous month of mid-June to mid-July. 

Transactions through ConnectIPS saw a decline in both the number of users and transaction volumes during mid-July to mid-August. According to the report, 6.84m users processed total transactions worth Rs 525.33bn through connectIPS during the review month, down from Rs 666.58bn processed by 7.79m in the previous month. 

According to the report, transactions through internet banking saw an increase to Rs 22.49bn in the first month of the previous fiscal year (mid-July to mid-August), compared to Rs 17.73bn in mid-June to mid-July. The number of people doing internet banking transactions also increased to 409,065 from 351,301 transactions during the period. Mobile banking transactions also increased to Rs 377.63bn in the review month compared to Rs 373.97bn in the previous month.

Transaction through digital wallets increased by 14.55 percent to Rs 43.69bn during mid-July to mid-August compared to Rs 38.14bn. The number of transactions, however, fell to 30.87m, down from 32.1m in the previous month. 

QR-based payments increased to Rs 62.28bn during mid-July to mid-August compared to Rs 61.73bn in the previous month. Such transactions during the review month, however, recorded more than 100 percent growth compared to the last first month mid-July to mid-August of last year when QR-payments worth Rs 29.99bn were recorded.