Nepal Exports Molasses Worth Rs 149 Million to Bangladesh in FY 2023/24

Nepal exported molasses worth Rs 149.369 million to Bangladesh during the Fiscal Year 2023/24 via the Kakarbhitta transit point in Koshi Province. According to Subash Pandeya, Chief of Nepal Transit and Warehousing Company Limited’s Kakarbhitta Branch Office, a total of 9,741.65 metric tonnes of molasses was shipped to Bangladesh during the last fiscal year.

The export trend continues in the current fiscal year 2024/25, with 3,555.6 metric tonnes of molasses valued at Rs 53.197 million already exported via Kakarbhitta by August 30.

Nabin Dahal, a trader and clearing agent, noted that the increase in Nepal’s molasses exports to Bangladesh is a result of India imposing a 50% tax on its molasses exports. This tax hike has made Nepali molasses more competitive, potentially leading to a further increase in exports to Bangladesh in the future.

Pandeya also explained that the trade route involves transporting molasses from Nepal’s Kakarbhitta transit point through Fulbari in West Bengal, India, and onto Banglabandh, the northern transit point of Bangladesh.