Empowering economic growth: A provincial case study of Nepal through the imperative role of agricultural commodity markets
1 Department of Management, Sikkim Professional University, Gangtok, India.
2 Supervisor and Visiting Professor, Sikkim Professional University, Sikkim, Gangtok, India.
Research Article
World Journal of Advanced Research and Reviews, 2024, 21(03), 1914–1924
Publication history:
Received on 14 January 2024; revised on 20 March 2024; accepted on 22 March 2024
Abstract:
Nepal is extremely diverse and located between China and India. Most of the essential requirements are managed through import. These import and local agriculture production meet the demands of people and helps in economy. This study is designed to analyze the role of local agricultural products in the economy of Nepal. A mixed research method was applied and three vital economic corridor-based Provinces were chosen for this study. The interview schedule through Questions, KII and FGD was planned and conducted during August-November 2023.
The data further illustrated that the local production of maize, paddy, wheat and millets is seasonal and insufficient for a year and lasts only for a few months from own field, and relies on markets imported through India and China. Nepalese markets are following cash-based transactions and the Government monitoring is challenging to control and monitoring the markets due to the open border. The daily consumable agricultural products such as vegetables, legumes, meats, fruits have limited production and dependent on Indian and Chinese markets. However, local production fulfills the demands of farmers and citizens for few months, and that value contribution is huge in the Nepalese economy. The local production is meeting the requirements of the people for few seasons. Due to diversity demands differ region-wise. The local production enhancement is the ultimate way out, effort from all sector for production is required and comprehensive study targeting market mechanism are suggested.
Keywords:
Agricultural Production; Diversity; Market; Economy; Import
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