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Rice production is projected to decline by 4.20 percent this year compared to last year, according to the Ministry of Agriculture and Livestock Development. 

The Ministry stated that paddy production is likely to decrease by 250,350 metric tons this year.

According to the Ministry’s Information Officer, Mahananda Joshi, the estimated rice production this year stands at 5,705,126 metric tons, down from 5,955,476 metric tons last year, representing a decline of 4.20 percent.

Last year, paddy cultivation covered 1,420,636 hectares of land, which has decreased by 3.8 percent this year to 1,376,872 hectares.

Factors such as youth migration, a shift toward fruit farming and cash crops, movement of people to urban areas, land industrialization, and the construction of physical infrastructure have contributed to the reduction in paddy cultivation.

In addition, drought during the paddy planting season, particularly in Madhes Province, led to a decrease in the area. Joshi added that despite the availability of hybrid seeds and fertilizers, adverse weather conditions negatively affected the planting season.

The price of gold has increased by Rs 4, 200 per tola in the domestic market on Monday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 282, 000 per tola today. It was traded at Rs 277, 800 per tola on Sunday.

Similarly, the silver being traded at Rs 5, 810 per tola today.

The Mechi Customs Office witnessed impressive growth in cardamom export during the first six months of the current fiscal year 2082/83 BS.

The Office shared that 3.46 million kilograms of cardamom worth Rs 7.2 billion were exported during the review period.

Information Officer of the Office, Ishwar Kumar Humagain, said that cardamom export increased by 58 percent during the period as compared to the same period of the last fiscal year. 

The export of cardamom was recorded at Rs 4.55 billion in the first six months of the last fiscal year. 

Similarly, export of Chhurpi, veneer sheet and lentils increased significantly, while export of tea and plywood declined during the period.  

Humagain shared that the export of lentils increased by 481 percent and veneer sheet by 109 percent in the first six months of the current fiscal year compared to the same period of the last fiscal year.

The Nepal Stock Exchange (NEPSE) gained 31. 12 points to close at 2, 672. 55 points on Sunday. 

Similarly, the sensitive index surged by 4. 70 points to close at 459. 43 points.

A total of 16,611,479-unit shares of 338 companies were traded for Rs 1. 52 billion.

Meanwhile, Sagar Distillery Limited (SAGAR), Unnati Sahakarya Laghubitta Bittiya Sanstha Limited (USLB), Shreenagar Agritech Industries Limited (SAIL) and Gurkhas Finance Ltd. (GUFL) were the top gainers today, with their price surging by 10. 00 percent. 

Likewise, Three Star Hydropower Limited (TSHL) was the top loser as its price fell by 8. 78 percent.

At the end of the day, total market capitalization stood at Rs 4. 48 trillion.