KARACHI: Wheat has become costlier by Rs100 to Rs3,150 per 100kg baggage in the open marketplace following records of crop problems in Punjab due to the latest rains combined with brisk exports of the financial instrument. As a result, millers include increased wheat flour costs ahead of Ramazan.
The cost of flour no.2.5 was increased to Rs1,700 per 50kg baggage from Rs1,675 used by a jump in excellent and extremely good flour charges to Rs1,875 from Rs1,825. Supervisor All Pakistan Flour Mills Association ( Sindh Chapter ) Mohammad Jawed Yousuf told Dawn on Thursday that everything was going smooth out until records of crop problems broken after serious rains and storms.
He declared harvesting was due to begin when rains hit the wheat-producing belt in southern Punjab. As a result of Sindh wheat, which initiated arrival from March, is now choosing its method into Punjab.
Jawed declared the Sindh government has so far not started wheat procurement from the growers for the present plant. The help cost of wheat is Rs1,300 per 40 kg. When requested how much Sindh now keeps final year’s wheat stocks, he declared on federal government documents, the products are approximated at 820,000 tonnes of final year’s crop.
Pakistan’s wheat exports rose to 557,587 tonnes ( $122m ) during the 1st 9 months ( July-March ) period of this fiscal year from 307,344 tonnes ( $59.7m ) in similar time a year ago.
The average unit cost of wheat came to $218 per tonne as against $194 per tonne at a similar time a year ago. Based on statistics of Pakistan Bureau of Statistics, the nation earned $236m by exporting 1.189m tonnes in FY18 versus 3,937 tonnes valuing only $1m in FY1.
In the last week of March, flour millers had slashed flour No.2.5 cost to Rs1,675 from Rs1,900 per 50kg baggage while the cost of good and extremely good flour was decreased to Rs1,825 from Rs2,025. As a result, the price of 5kg baggage of superior quality flour ( Bake Parlour and Ashrafi ) had eased to Rs220 from Rs230 while 10kg bag was costing Rs420 as against Rs440.