Price of wheat in Karachi have dropped by Rs8 per kg in the last week, according to official data.
Wheat price in Karachi open market have continued to drop. After a recent decrease of Rs2 per kg, the product is now being sold at Rs63 per kg.
Alternatively, the flour millers have failed to pass on the savings to end-users, as Fine Flour from flour mills is sold at Rs74 per kg and Dhayee Number at Rs70 per kg.
Notable is that the flour mills received 1 lac tonnes of wheat at a government-subsidized price.
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It was determined by the Sindh Cabinet in a meeting held last week that the support price for wheat in the province would be Rs2200 per maund.
An executive session of the cabinet presided over by Chief Minister Murad Ali Shah, approved the purchase of 1.4 million metric tonnes of wheat and allocated Rs. 4450 million in funding for the purchase of the grain, which is utilized as a basic meal in the state.
In addition, the chief minister directed that wheat be procured in northern Sindh beginning on March 1st. According to him, “the procurement centers will be launched in the last week of February.”