Spiralling wheat price may lead to another hike in flour rates

LAHORE: Traders in the provincial metropolis on Tuesday said persistent upward trend in wheat price in the open market may lead to another hike in the flour rates soon.

The price of wheat is constantly on the rise and is now hovering around Rs1900 per 40kg, said Haji Yousaf, president Lahore Atta Dealers Association. He added that flour mill owners have already showed their intention to jack up the flour price by another Rs50 to Rs 75 per 20/kg bag. After a possible increase in flour price, he feared that its bag could cost consumers Rs1,050 to Rs1,075 per bag. He asked the government to take effective steps for controlling wheat price in the open market so that flour rates could be kept within the reach of the masses.

On the other hand, Abdul Rahman, general secretary, Atta Chakki Owners Association said good quality wheat was not available in Lahore even at Rs1,950 per 40 kg. The Chakki owners would be left with no option but to increase the price of flour to Rs70 per kg from Rs65 if the increasing trend in the wheat price continued. Meanwhile, Punjab food department has announced that steps were being taken to stabilise the wheat and flour prices. A spokesperson of the department said important decisions in this connection had been taken in a meeting chaired by Prime Minister Imran Khan in Islamabad.