Flour rates decline with the arrival of imported wheat
Flour price is moving downward with the improved supply of wheat. With the arrival of imported wheat, price of wheat has started to decline in the retail markets.
The Economic Coordination Committee (ECC) of the Cabinet allowed the Trading Corporation of Pakistan to import 1.50 MMT of wheat on 4th August, 2020. On the request of provinces, 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 i.e. PASSCO, Punjab, KP and Sindh.
As per details, amid the development, Provincial Food Departments have reported downward trends in the retail market prices of wheat and wheat flour. The prices of local & imported wheat have decreased around Rs. 200/100kg. The price of imported wheat in Karachi has reduced from Rs. 4900/100kg to Rs.4700/100kg. In Rawalpindi area, wheat price has decreased from Rs. 2400/40kg to around Rs. 2200/40kg. The prices of wheat flour are controlled by the respective local administration.
Provincial Food Departments of Punjab, Sindh & KP have fixed the release price of wheat @ Rs. 1475/40kg. The controlled price of flour in Punjab & KP is Rs. 43/kg (Rs.860/40kg) while Rs. 52/kg in Sindh. The super fine atta is being sold @ Rs.60kg in Punjab, Rs. 58/kg in Sindh and Rs. 65kg in KP.
Furthermore, Provincial Food Departments have enhanced the release of wheat to flour mills from 30,000 MT in the previous week to 40,000 MT.