Wheat prices in Punjab have recorded a sharp decline over the past three days. According to a national daily, the price fell by Rs900 per maund, with the open market rate in Gujranwala division dropping to Rs3100 per maund on Thursday.
Punjab Chief Minister Maryam Nawaz has indicated that wheat will be supplied to flour mills at Rs3000 per maund.
Meanwhile, a BBC report stated that in the past month, prices of wheat, flour, and rice have risen nationwide in the wake of the recent floods.
Flour mill owners, grain traders, and shopkeepers claim that the disrupted supply due to floods has pushed prices higher. Experts, however, insist the increase is largely artificial, caused by hoarding and profiteering rather than the floods.
Over the last two weeks, the price of a 20-kg bag of flour, which previously sold for Rs1450, has surged to as much as Rs2500 in some areas.
On the rice front, traders said the floods badly damaged the paddy crop, driving up the price of a 25-kg bag by an average of Rs1000—meaning rice has become about Rs40 more expensive per kilogram.
