Gold price drops by Rs 400 per tola on Sunday
The price of gold has dropped by Rs 400 per tola in the domestic market on Sunday.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 111, 900 per tola today. It was traded at Rs 112, 300 per tola on Friday.
Meanwhile, tejabi gold is being traded at Rs 111, 350 per tola.
Similarly, the price of silver has dropped by Rs 10 and is being traded at Rs 1,395 per tola today.
Agriculture Census 2021/22: Agricultural land in the country has decreased over the past decade
In what could be an eye-opener for policymakers and the government, the Agriculture Census 21/22 has shown that the agricultural land in Nepal has decreased in the last decade. The census made public by the National Statistics Office (NSO) on Thursday shows agricultural land in the country has reduced by 0.3m hectares in the last 10 years.
The census says the total area of agricultural land holdings in Nepal in FY 2021/22 stood at 2.22m, down from 2.52m in FY 2011/12.
According to the census, while the number of families involved in farming has increased, it has been seen that the arable land is decreasing. The number of families involved in agriculture has increased by 0.3m to 4.13m in FY 2021/22 from 3.36m in FY 2011/12.
The land has become more fragmented over the years, according to the census. In the last 10 years, both the total number of land parcels and the average number of land parcels per holding have decreased. “In 2021/22, the total number of parcels is 11,583.9 thousand and the average number of parcels per tenant is 2.8,” says the census. The average parcel size has decreased from 0.21 hectares in 2011/12 to 0.19 hectares in 2021/22.
Most of the agriculture holdings in Nepal are owned and operated by the owners themselves. The census shows 81.6 percent of land holdings are fully owned, 1 percent are fully rented, 0.2 percent are unidentified ownership and 16.8 percent are either partly owned, or rented or under other arrangements.
Of the total land operated by agriculture holdings, 2.12m hectares (95.6 percent) are used for agriculture, 80,700 hectares are covered by forest, 12,900 hectares are used for ponds, and the remaining 3,200 hectares are other land. The area of forest has increased by 46.9 percent and the area of ponds by more than three times in the last one decade.
The majority of agricultural land, which amounted to 1.730m hectares is used for temporary crops which include paddy, maize, wheat, and vegetables while 145,400 hectares is used for permanent crops. In the past 10 years, the land used for temporary crops has decreased by 392,316 hectares, and for permanent crops by 23,093 hectares.
Of the total land used for temporary crops, 1.216m hectares is used for paddy plantation. However, there has been a 16 percent decrease in the area used for paddy plantation in the last decade. “The same trend is observed for maize and wheat,” says the census. However, the census has shown a significant increase in the area used for vegetable farming. The area for vegetable farming has increased to 107,700 hectares in 2021/22 from 84,400 hectares in 2011/12.
While the government and the central bank have been prioritizing agriculture loans directing banks and financial institutions (BFIs) to lend 13 percent of their loans to the agriculture sector, the number of farmers availing such loans has decreased in the last 10 years. According to the census, only 12 percent of farmers have taken agri-loans from the BFIs in 2021/22, down from 22 percent in 2011/12. Of them, 39 percent have taken such loans from cooperatives.
Box
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Total area of agricultural land FY 2021/22 2.22 million hectares FY 2011/12 2.52 million hectares Number of families involved in farming FY 2021/22 4.13 million FY 2011/12 3.36 million |
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Of the total land Used for agriculture 2.12 million hectares Covered by forest 80,700 hectares Used for ponds 12,900 hectares Other land 3,200 hectares |
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Of agricultural land Used for temporary crops 1.730 million hectares Used for permanent crops 145,400 hectares |
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Area for temporary crops Paddy 2021/22 1.216 million hectares 2011/12 1.456 million hectares Maize 2021/22 559,900 hectares 2011/12 673,700 hectares Wheat 2021/22 654,200 hectares 2011/12 749,400 hectares Vegetable 2021/22 107,700 hectares 2011/12 84,400 hectares |
Nepse plans to launch ‘Nepse 30’ index within a month
Nepal Stock Exchange (Nepse) is gearing up to launch the new stock trading index ‘Nepse 30’ within a month. After completing the necessary technical and policy preparations, the Nepse plans to bring ‘Nepse 30’ into operation by the first week of October.
The ‘Nepse 30’ index is currently being tested internally. The test, which started on July 25, has shown that the ‘Nepse 30’ index can be operated. According to Nepse officials, an official announcement on it will be made soon.
The procedure prepared for the operation of ‘Nepse 30’ has been submitted to the Nepse board for approval. The upcoming board meeting of the Nepse is likely to endorse it, paving the way for the operation of the ‘Nepse 30’ index.
Nepse Spokesperson Murahari Parajuli said that the related procedure has already reached the Nepse board. “The upcoming meeting of the board will discuss the procedure,” he said, “After the approval of the board, the ‘Nepse 30’ index will come into operation.”
According to Parajuli, Nepse has also completed technical preparations including the IT system required to operate the ‘Nepse 30’ index. Currently, a trial is being carried out internally selecting a few companies.
Nepse has envisioned Nepse 30 as an index based on the share trading of 30 selected companies. The new index will comprise the top 30 companies that meet the criteria set by Nepse among all the listed companies.
However, Nepse 30 will not be a separate index. At present, there are 13 sub-indices in Nepse alongside sensitive, float, and sensitive float indices. According to Nepse, companies from six sectors including banks and financial institutions, microfinance, insurance, hydropower, manufacturing, and trade and services will be included in the Nepse 30 index. Each of these sectors will have a minimum of one company to a maximum of eight companies in the index.
Companies having profits in the last three years, having earnings per share of more than 10 percent of the paid-up capital, and having earnings per share higher than the inflation will be eligible for the ‘Nepse 30’. Similarly, the companies are also required to have issued at least 25 percent of the shares to the general public and have at least 20,000 shareholders.
Similarly, companies’ average daily turnover in the last six months should be at least 2.5m, and their average daily share trading of 5,000 units.
The Nepse has said that it is introducing ‘Nepse 30’ with the aim of developing, operating, and managing indices to strengthen secondary market transactions.
The ‘Nepse 30’ index will be implemented as an index based on market capitalization including immediately tradable (free float) shares.
Nepse had previously prepared to bring the ‘Nepse 50’ index. However, it went for the ‘Nepse 30’ arguing that there could be problems in managing 50 companies.
Gold price increases by 300 per tola on Friday
The price of gold has increased by Rs 300 per tola in the domestic market on Friday.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 112, 300 per tola today. It was traded at Rs 112, 000 per tola on Thursday.
Meanwhile, tejabi gold is being traded at Rs 111, 750 per tola. It was traded at Rs 111, 450 per tola.
Similarly, the silver is being traded at Rs 1,410 per tola today.
