The ripple effects of petroleum and electricity price hikes are now being felt in the realm of food and other commodities as multiple issues compound the woes of the common man.
There is a notable shift in the market landscape as the price tag of a kilogram of sugar in the local wholesale market has risen by Rs. 5, standing at Rs. 148, with its retail counterpart spiking to Rs. 170.
This upswing is mirrored in other staples too with the escalating cost of petroleum products has prompted projections of a Rs20 uptick in a 20kg bag of flour, pushing it from its present Rs. 2,800 to Rs. 2,820.
The ramifications of this market tumult extend further as the cost of broiler meat has surged by Rs. 18 to reach Rs. 600 per kilogram. Live broiler chicken prices are not immune, inching up by Rs. 12 to Rs. 400 per kilogram, while farm-fresh egg prices have elevated by Rs. 2 to settle at Rs. 290 per dozen.
The entwined nature of these price shifts underscores the intricate economic interplay that shapes everyday consumer choices and purchasing power.
It should be noted that these are not standalone crises that originated solely and appear out of nowhere but are only worsened by ongoing economic challenges.
The bottlenecks in the Wheat and Sugar supply chain, the smuggling, hoarding, and other inefficiencies predate any political and economic uncertainty while chicken prices are up since the government set off on the crusade of anit GMO-soybean-based poultry feed but hike in finance and operational costs for the industry have pronounced these problems at their current level.
