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Flour millers join the marathon!

The updated rate of flour no.2.5 has been fixed at Rs106 per kg while fine and super fine flour rates are now Rs114 per kg, a miller said, adding that the new rate of 10kg flour bag has been increased to Rs1,065 from Rs995.

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While people are struggling to meet their ends in the time of record-high level of inflation, millers have increased per kg prices by Rs7 for flour no.2.5 and Rs10 for fine and superfine flour (maida).

The updated rate of flour no.2.5 has been fixed at Rs106 per kg while fine and super fine flour rates are now Rs114 per kg, a miller said, adding that the new rate of 10kg flour bag has been increased to Rs1,065 from Rs995.

Read more: Weekly inflation making new records!

Rauf Ibrahim of Karachi Wholesalers Grocers Group (KWGA) claimed the open market wheat price has risen to Rs9,200 per 100 kg bag from Rs8,500 two days ago. He said the arrival of wheat in Karachi from interior Sindh has been constrained to only 6,600 tonnes a day from 10,000-12,000 tonnes owing to flash floods that have wrecked road network and wheat stocks.

He stated that the government should permit the private sector to import wheat in order to address the demand and supply gap, as the Sindh government plans to distribute wheat to millers in October or November.

However, the introduction of imported wheat in the last two years has had little impact on the bullish trend in local prices.

According to Trading Corporation of Pakistan (TCP) data, Pakistan imported 1.7 million tonnes in FY21, with Punjab receiving almost one million tonnes, followed by 444,935 tonnes to Khyber Pakhtunkhawa, 117,528 tonnes to Sindh, and 114, 532 tonnes to Passco to stabilise prices.

The private sector imported around 1.5m tonnes in the above period.

In FY22, 2.23m tonnes were imported by the TCP and delivered 519,412 tonnes to KP and 1.684m tonnes to Passco.

As shown by the Pakistan Bureau of Statistics data, the country imported 211,597 tonnes of wheat in July valuing $107m.

Rauf Ibrahim said as per market reports, around 800,000 tonnes of wheat had arrived in August through TCP. In FY22, the government prohibited the private sector from importing grain.

Previously, 3 million tons wheat shortage in the country was expected because of the war in Ukraine, as Russia and Ukraine together contribute a large share to the world’s grain production.

The situation got worse due to massive destruction caused by floods to the crops.

However, the National Assembly Standing Committee on National Food Security and Research was assured some days back that there will be no shortage of wheat in the country despite the loss of stocked grain in Sindh in the wake of heavy rains and floods in the country.

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