Business

Flour prices increase in Punjab in line with wheat rates

Published by

Digital Desk

2 years ago

LAHORE: Flour prices in Punjab have risen by Rs250 per 20kg flour bag in just two weeks due to the increasing wheat price.

As per details, wheat prices in major cities like Lahore and Rawalpindi have crossed Rs3,000 per maund (40kg) for the first time in the previous two weeks. Wheat stock is also running out in the markets, the Punjab Flour Mills Association (PFMG) said.

The wheat price in Rawalpindi has surged to Rs3,200 per 40 kg against the government-notified maximum retail price of Rs2,950. Similarly, flour millers in Lahore are purchasing wheat at Rs3,000 per 40 kg against the notified price of Rs2,900.

The flour mills association alleged that flour price has been increased by Rs1 per kg in line with a hike in production cost. The millers argue that flour mills are operating according to basic market principles of supply and demand.

Following the increase in flour prices, the food department issued the show-cause notice, which was condemned by PFMG, calling them arbitrary and unjust. The association demanded the withdrawal of these notices served on flour mills in the province, insisting that flour prices would based on current wheat rates.

Digital Desk