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The Nepal Stock Exchange (NEPSE) plunged by 51. 11 points to close at 2,702.65 points on Tuesday.

Similarly, the sensitive index dropped by 7. 74 points to close at 478. 16 points.

A total of 22,588,247-unit shares of 310 companies were traded for Rs 10. 46 billion.

Meanwhile, Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) was the top gainer today with its price surging by 10. 00 percent. Likewise, Ngadi Group Power Ltd. (NGPL) was the top loser with its price dropped by 9. 25 percent.

At the end of the day, the total market capitalization stood at Rs 10. 46 trillion.

Chaudhary Group (CG) has paid Rs 18.5bn in taxes, accounting for approximately 1.96 percent of the government’s total revenue. The company estimates this to be the highest contribution among private business entities in Nepal.

Despite challenges such as a sluggish economy, an unfavorable business environment, and weak performance in the production and construction sectors, CG reported a 15 percent increase in its tax contribution compared to the previous fiscal year. The group paid Rs 16.14bn in taxes in the fiscal year 2022/23, with the latest figure exceeding it by Rs 2.38bn.

CG Chairperson Binod Chaudhary expressed pride in the group’s role in strengthening the national economy. “We are proud to contribute to the expansion of the national economy and the country’s development projects,” he said. “Despite the adverse economic conditions, we remain committed to supporting the government in fulfilling its development responsibilities and ensuring social security for the people.”

Over the past five years, CG has paid Rs 76.54bn in taxes. Contributions in recent fiscal years include Rs 9.87bn in 2019/20, Rs 14.28bn in 2020/21, Rs 17.72bn in 2021/22, Rs 16.14bn in 2022/23, and Rs 18.52bn in 2023/24.

Managing Director Nirvana Chaudhary emphasized the group’s steady contribution to Nepal’s economy through established and emerging businesses. “We aim to maintain this growth trajectory and continue investing in infrastructure and technology-driven enterprises, which will further contribute to the nation’s economic development,” he said.

Although Nepal lacks a formal system to measure or recognize business groups’ contributions to government revenue, CG has annually disclosed its tax contributions to promote transparency. Spokesperson Madhusudan Paudel clarified that individual taxpayers’ contributions are not included in the group’s reported tax figures, addressing occasional public misconceptions.

Paudel also stated that CG’s annual tax contribution disclosure is an effort to enhance public awareness and encourage the government to establish a standardized system for calculating and publishing tax contributions by businesses.

The price of gold has increased by Rs 1, 100 per tola in the domestic market on Tuesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 162, 100 per tola today. It was traded at Rs 161, 000 per tola on Monday.

Similarly, the price of silver has increased by Rs 35 and is being traded at Rs 1, 155 per tola today.

The price of cardamom has hit a decade-high in Nepal’s eastern hilly districts, surpassing Rs 100,000 per 40 kg.  

Cardamom is sold in three grades. Traders report that high-quality cardamom is priced at Rs 105,000, scissor-cut (tail-removed) cardamom at Rs 101,000, and regular cardamom at Rs 98,000 per 40 kg.  

“This year, cardamom has reached its highest price in the last decade,” said Deepak Nepal, a cardamom trader and central member of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI). “Prices could rise even further.”  

The price last peaked at Rs 105,000 per 40 kg in 2014, followed by a steady decline. Recovery began last year, with prices around Rs 82,000 per 40 kg.  

Nirmal Bhattarai, central president of the Cardamom Traders’ Association, predicts a record-breaking year. “Prices are continuously increasing,” Bhattarai said. “This rise is likely due to reduced production, despite strong international demand.”  

The highest price on record was in 2010, when cardamom briefly sold for Rs 120,000 per 40 kg.  

According to the Mechi Customs Office, 783.75 metric tons of cardamom were exported in the first three months of the current fiscal year (2023-24), significantly lower than the previous year. Harvesting begins in July and concludes by early December.  

For farmers in Nepal’s hilly regions, cardamom is a vital income source. It is cultivated in 42 districts, with significant production in Panchthar, Taplejung, Ilam, Sankhuwasabha, Khotang, Bhojpur, and Tehrathum in Koshi Province.  

However, production has declined. In Koshi Province, output dropped from 7,763.87 metric tons in the 2022-23 fiscal year to 7,582.02 metric tons in 2023-24. The current year’s data is pending, but estimates suggest a 20 percent reduction.  

“Production has fallen sharply due to pests, diseases, and landslides,” said agricultural technician Keshar Bahadur Magar from Panchthar. “This year’s harvest will likely be much lower than in previous years.”