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Business & Finance

Flour rates come down as Sindh govt release wheat

  • The food department has released 85,000 metric tonnes of wheat at the rate of Rs 36.87 per 100 kg.
23 Oct 2020

After the release of wheat by the Sindh government to flour mills, the prices of flour have come down by Rs 7 per kg.

According to Khalid Masood, former chairman of Pakistan Flour Mills Association Sindh, the food department has released 85,000 metric tonnes of wheat at the rate of Rs 36.87 per 100 kg. After which the retail price of Number 2 atta has declined by Rs. 7 to Rs. 55 per kg, whereas, the rate of fine atta or maida has also come down to Rs 66 per kg, and the rates are expected to drop further.

On the other hand, small mill owners have indicated the possibility of a reduction in prices in a couple of days. At present, small mill flour is being sold at Rs 75 per kg.

It is pertinent to mention that in order to curb the skyrocketing rates of wheat, The federal government in July this year allowed duty-free import of wheat to control the prices of wheat flour and avoid the shortage of the commodity in the local market. The private sector was given a quota of some 1.5 million metric tons of wheat import and accordingly, the private sector is importing wheat in bulk quantity.