High-value exports rise 23.85 percent to Rs 36.65 billion in first quarter, Post reports

High-value exports rise 23.85 percent to Rs 36.65 billion in the first quarter, Post reports

Exports of the goods on Nepal's high-value list rose 23.85 percent in the first three months of the fiscal year, to Rs 36.65 billion from Rs 29.59 billion a year earlier, The Kathmandu Post reported on Saturday. The list is the one in the Nepal Trade Integration Strategy 2023. Neither the Post nor Kantipur, which ran the same reporter's figures in Nepali, names the agency behind the breakdown.

Iron and steel brought in Rs 4.71 billion. Jute products earned Rs 3.85 billion, readymade garments Rs 3.83 billion and large cardamom Rs 2.57 billion from 1,449 tonnes, the Post said. Cement exports fell to Rs 419.27 million. Lentils, medicinal herbs and fruits also declined, though the Post gave no figures for them.

These goods were about a third of all exports. Total exports for the quarter were Rs 114.28 billion, up 57.03 percent from Rs 72.78 billion, My Republica reported on October 28 from customs data.

Most of that rise came from re-exported edible oil. The Post put it at Rs 58.42 billion, while My Republica gave vegetable oil exports as Rs 59.32 billion.

Why it matters: In the first six months of the last fiscal year the same high-value exports grew 1.22 percent, to Rs 49.64 billion, The Kathmandu Post reported in January.

Electric motorcycle imports through Birgunj quadruple in the first quarter, Kantipur reports

Birgunj customs cleared 8,850 electric motorcycles in Shrawan to Asoj, against 2,194 a year earlier, Kantipur reported. Their value rose to Rs 1.70 billion from Rs 287.9 million.

Government and South Pole agree to develop a forest carbon programme in three provinces

The government and South Pole agreed at the COP31 climate talks in Antalya to develop a jurisdictional REDD+ forest carbon programme in Koshi, Karnali and Sudurpashchim, OnlineKhabar and Clickmandu reported on Saturday. OnlineKhabar put the forest area at more than 2.5 million hectares. Clickmandu said more than 2.6 million.

The credits would follow the ART TREES standard and are aimed at buyers under CORSIA and Article 6 of the Paris Agreement. No money figure or volume of credits was given. Rules for sharing the benefits and for community consent are still to be drawn up, OnlineKhabar said. Clickmandu said the procedures are meant to be finished within two years.

Why it matters: Nepal signed a separate deal with the LEAF Coalition in January for up to $55 million in forest carbon payments, The Kathmandu Post reported then. None of Saturday's reports says how the two relate.

Bananas sell for Rs 100 to Rs 150 a dozen at Kalimati before Chhath, Kantipur reports

Bananas sold for Rs 100 to Rs 150 a dozen at Kalimati on Thursday, against up to Rs 350 two months earlier, Kantipur reported. The producers' federation chair puts yearly demand at about 900,000 tonnes and last year's output at 700,000.

Licences for four private transmission lines still not transferred, Kantipur reports

Licences for four transmission lines offered to private builders are still in the electricity authority's name, and 18 expressions of interest have sat in evaluation for five months, Kantipur reported. It had put the wait at four months on October 24.