KATHMANDU, April 14: If you are planning to buy summer apparels, be prepared to increase your budget as prices of summer wears have become dearer by around 40 to 45 percent in view of strengthening US dollar, Thai Baht and Chinese Yuan vis-à-vis Nepali currency.
Besides, upward revision in customs duty and hike in transportation costs have also contributed to the rise in prices.
Traders said that price of raw materials, too, has shot up resulting in the rise in manufacturing cost.
According to Lakshman Shrestha, one of the proprietors of Sphinx at City Centre, prices of apparels that are imported from Thailand have increased by up to 30 percent due to increase in customs duty, freight costs and increase in production costs in Thailand.
Baikuntha Manandhar, proprietor of New Angel Blue at Kathmandu Mall, echoed Shrestha. Manandhar said that summer wears have become expensive by around 40 to 45 percent on an average in the retail market while in wholesale market it has increased by up to 30 percent.
According to Manandhar, men´s T-shirts at the store are priced between Rs 1,250 and Rs 1,700. Last year, T-shirts for men were available in the range of Rs 800 to Rs 1,300. Similarly ladies tops are priced between 1,100 and Rs 2,000 while last year it was priced between Rs 800 and Rs 1,500.
“Price of raw materials has increased by 5 to 10 percent causing the price of clothes in almost all the countries to go up,” Hem Swar, president of Suraj Arcade Traders Association, told Republica.
Most of the traders in the stores around the capital are selling apparels from the stock of last year as the price has skyrocketed. Manandhar said that it is very difficult to convince the buyers that the price has gone up as they want to pay the same old rates.
Due to this, many traders are reluctant to import summer wears for this season.
Most of the apparels are imported from China and Thailand. According to the traders, 80 percent of the apparels are imported from China and a slight increment in Yuan highly affects the price in the Nepali market.
According to traders, last year Yuan was equivalent to less than Rs 10 at this period. But Yuan is now equivalent to Rs 13, thus, affecting the prices of the apparels.