Flour price shows downward trends with the improved supply of wheat: MinNFS&R
ISLAMABAD: With the arrival of imported wheat, the price of wheat has started to decline in the retail markets.
The provincial food departments have reported downward trends in the retail market prices of wheat and wheat flour, said a statement issued by the Ministry of National Food Security and Research (NFS&R).
It said that the prices of local and imported wheat have decreased around Rs 200 per 100kg. The price of imported wheat in Karachi has reduced from Rs 4900 per 100kg to Rs 4700 per 100kg.
In Rawalpindi area, wheat price has decreased from Rs 2400 per 40kg to around Rs 2200 per 40kg, it said adding that prices of wheat flour were controlled by the respective local administrations.
Provincial Food Departments of Punjab, Sindh and KP have fixed the release price of wheat at Rs 1475 per 40kg, it said adding that controlled price of flour in Punjab and KP was Rs 43 per kg (Rs 860 per 40kg) while Rs 52 per kg in Sindh. The super fine atta is being sold at Rs 60 per kg in Punjab, Rs 58 per kg in Sindh and Rs 65 per kg in KP.
Furthermore, the provincial food departments have enhanced the release of wheat to flour mills from 30,000 metric tons (MT) in the previous week to 40,000 MT as of today.
However, this quantity varies as per the requirement of the flour mills. It is expected that due to arrival of more wheat in the upcoming months, prices of wheat and fine flour will be further reduced.
It is worth mentioning here that Economic Coordination Committee (ECC) of the Cabinet allowed the Trading Corporation of Pakistan to import 1.50 MMT of wheat on August 4, 2020.
On the request of provinces, the federal government enhanced the quantity of imported wheat up to 2.2 MMT to ensure uninterrupted supply of wheat at affordable prices.
Import of wheat is being made through TCP and PASSCO on behalf of recipients like PASSCO, Punjab, KP and Sindh.
Out of the total allocation of 2.2 MMT, 280,000 MT wheat has already arrived in the country whereas 7 more ships carrying around 400,000 MT of wheat are expected to be arrived in November, 2020. Furthermore, 20 ships carrying 1.4 MMT were booked and scheduled to be reached in the months of December, January and February, it added. - APP