Nepal exported molasses worth Rs 149.369 million to Bangladesh during Fiscal Year 2023/24 through the Kakarbhitta bypass point in Koshi Province. It is an important breakthrough in the country’s commerce. According to Subash Pandeya, Chief of Nepal Transit and Warehousing Company Limited’s Kakarbhitta Branch Office, a total of 9,741.65 metric tons of molasses were delivered to Bangladesh during this time. It indicates the increasing demand for Nepali molasses in the neighboring nation.
The export trend has continued into the current fiscal year 2024/25. About 3,555.6 metric tons of molasses worth Rs 53.197 million already shipped through Kakarbhitta by August 30. Nabin Dahal, a trader and clearing agency, links the rise in shipments to India’s recent imposition of 50% fees on molasses exports. “India’s tax hike has made Nepali molasses more competitive, and we are likely to see further growth in exports to Bangladesh in the coming months,” Dahal reported.
The trade route for Nepali molasses goes from the Kakarbhitta transit point through Fulbari in West Bengal, India, and then to Banglabandh, Bangladesh’s northern transit point. Subash Pandeya stated that this channel has been essential in supporting the flawless shipment of molasses. Therefore it is contributing to Nepal’s growing commercial ties with Bangladesh.
Looking ahead, the competitive price of Nepali molasses, supported by external variables such as India’s tax laws, is expected to boost Nepal’s exports. Dahal was positive because he said, “With the current trends, Nepali molasses is set to carve out a more significant share in the Bangladeshi market, benefiting our economy significantly.”
Also read: Nepal’s First Paralympic Medal Won by Palesha Govardhan
Image source: https://en.wikipedia.org/wiki/Molasses
