Price of 20kg wheat flour bag increased by Rs 50

LAHORE: The Progressive Flour Mills Association has increased the price of 20kg wheat flour bag by Rs 50, citing rising trend in the rates of wheat in the market.

PFMA leaders after a meeting here on Thursday said the wheat price in the market is hovering around Rs 1,600 per 40kg. Hence, the Atta rate has now been increased by Rs 50 per 20kg. The retail rate is now fixed at Rs 875 per bag.

The Maida price also surged by Rs 100 per bag. Earlier, in mid-May, an increase in the price of 20kg flour bag was made from Rs 805 to Rs 825 in the retail market. Commenting on the bullish trend in the grain market, Khaleeque Arshad and Majid Abdullah said flour millers were left with no option but to increase Atta price as wheat supplies have been squeezed. “We had already warned that this jump was expected after Eid if grain supplies are not eased substantially.”

It is pertinent to mention here that the share of branded flour stands at about 45 per cent in the provincial metropolis while it is 20 per cent in smaller cities. Almost every city has several brands.

Meanwhile, the ruling group of the Pakistan Flour Mills Association on Thursday asked the Food Department to start releasing wheat to mills so that flour could be sold at controlled rates. However, the government refused to accept the millers’ demand. A dialogue in this regard is expected on Friday.