November 8: The flower business has shrunk by Rs 1.21 billion due to the impact of Covid-19 pandemic. According to stakeholders, the annual turnover of flower business has declined because of the closure of hotels, restaurants and party palaces as well as low-key marriage ceremonies and other functions during the lockdown period.

The Floriculture Association of Nepal informed that the annual turnover of this business was Rs 2.42 billion in fiscal year 2075/78 before the onset of Covid-19 pandemic. In fiscal year 2077/78, the business has shrunk by Rs 1.21 billion to Rs 1.63 billion.

Chairman of the association Min Bahadur Tamang said that the people involved in flower business had to sustain a great loss because the market associated with the flower business had come to a standstill during the lockdown period.

According to him, the flower market was growing by an average of 10 to 15 percent annually in Nepal. The businessmen had increased their investment considering this trend ahead of the pandemic. But the Covid-19 pandemic unexpectedly affectedly the business to a large extent.

During normal circumstances, the domestic market of Nepal used to consume more than 2.2 million units of garlands made of marigold flowers during the Tihar festival. However, during the last fiscal year, only 1.8 million units of garlands were sold during the festive season. The association has estimated the same amount of sale during this year’s Tihar festival.

The flower entrepreneurs have imported 250,000 units of garlands from India while the demand for the remaining garlands was met from domestic production. However, Tamang says that the garlands were brought into Nepal from India through unofficial channels as well, thereby causing loss to the local farmers.