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Wheat Price Breaks All Previous Records in Pakistan

The price of wheat in Punjab has broken all records as it is being traded at an all-time high rate of Rs. 2,650-2,700 per maund, equivalent to just over 37 kg, in grain markets all over the province.

As a result, Chakki Atta dealers in the province have warned of increasing the rates of wheat flour accordingly in order to meet their expenses in the wake of crippling inflation.

Speaking in this regard, Secretary of Punjab Chakki Atta Dealers Association, Abdul Rehman said that the wheat yield from last year will end next month and its price in grain markets has already hit a new record.

The landing cost of wheat at the warehouses which includes loading, unloading, and freight charges as well has crossed Rs. 2,700, which is why the hike in the price of wheat flour is inevitable.

He explained that one of the reasons behind the unprecedented price of wheat is that Punjab is also supplying wheat to other provinces, which has put an additional burden on the grain markets in the province.

The situation is expected to normalize by the end of February or early March as the wheat yield from Sindh will hit the grain markets by then. The Sindh government had fixed the support price for wheat at Rs. 2,200 per maund.

Chairman of Pakistan Flour Mills Association (PFMA), Khaleeq Arshad, said that wheat is being traded at Rs. 2,550 per maund and Rs. 2,650 per maund in the grain markets of Lahore and Rawalpindi respectively.

He urged Chief Minister Punjab, Sardar Usman Buzdar, to intervene and order the immediate release of the government’s stock of wheat in the grain market to control the surging prices.

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Published by
Haroon Hayder