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The gold is being traded at Rs 119, 500 per tola in the domestic market on Sunday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, tejabi gold is being traded at Rs 118, 950 per tola.

Similarly, the silver is being traded at Rs 1,420 per tola today. 

The Nepal Stock Exchange (NEPSE) plunged by 8. 71 points to close at 2,049.28 points on Thursday.

Similarly, the sensitive index dropped by 5. 12 points to close at 379. 16 points.

A total of 16,052,101-unit shares of 303 companies were traded for Rs 5. 58 billion.

Meanwhile, Kalika power Company Ltd and Singati Hydro Energy Limited were the top gainers today with their price surging by 10. 00 percent. Likewise, Siddhartha Premier Insurance Limited was the top loser with its price dropped by 5. 56 percent.

At the end of the day, the total market capitalization stood at Rs 3. 18 trillion.

Nepal’s tea exports witnessed a decline in the first five months of the fiscal year 2023/24.

Data released by the Department of Customs shows that Nepal exported 7,181 tons of tea valued at Rs 1.87bn over the five months of 2023/24, in contrast to 10,065 tons worth Rs 2.23bn during the same period in the previous fiscal year.

The decline in tea exports during this period is attributed to farmers holding onto their stock in anticipation of obtaining better prices, according to traders. Notably, exports of special tea varieties decreased in this period. Special tea varieties such as green tea, white tea, gold tea, and silver tea are known to command higher prices in the international market.

Although there is a high demand for Nepali tea in the international market, Nepali producers are facing challenges in sending their products abroad. Indian traders take advantage of this situation by purchasing Nepali tea and exporting it to international markets, say Nepali farmers.

Farmers claim that Indian traders offer them around Rs 550 per kg for tea but sell the same product to international buyers for as much as Rs 3,000 per kg.

Nepali farmers cultivate CTC (crush, tear, curl)  and orthodox varieties of tea. Tea farming is done across 20,237 hectares in 30 districts. Nepal has around 160 tea gardens and over 17,000 people are involved in tea farming. However, major production is concentrated in districts like Jhapa, Ilam, Panchthar, Terhathum and Dhankuta in eastern Nepal. Tea is also grown in districts such as Bhojpur, Khotang, Chitwan, Sindhuli, Parbat, Kavre, Gorkha, Dolakha, Lalitpur, Ramechhap, and Pyuthan, among others.

Nepal’s annual tea production capacity is approximately 26,300 tons. Of the total production, about 6,500 tons is orthodox tea, while green tea accounts for around 730 tons and the remaining is CTC tea.

Nepali tea is exported to various countries, including Australia, France, Canada, Denmark, China, Germany, Japan, Italy, the Netherlands, the United States, Poland, Sweden, Thailand, Taiwan, and India.

Meanwhile, the government has begun branding exercises in a bid to enhance competitiveness and access of Nepali tea in the national market. The Nepal Nepal Tea and Coffee Development Board has started preparation to establish a brand identity for Nepali tea. The board has invited designers to create and submit a logo for Nepali CTC tea with the slogan ‘Nepal Tea-Premium CTC’.

The price of gold has dropped by Rs 1,300 per tola in the domestic market on Thursday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 119, 500 per tola today.

Meanwhile, tejabi gold is being traded at Rs 118, 950 per tola.

Similarly, the silver is being traded at Rs 1,420 per tola today.