Flour prices in Karachi have witnessed a significant drop after fruitful negotiations between the Commissioner and local flour mills. This positive development will not only provide relief to consumers but also impact various bakery products’ costs in the region.
Agreement Reached on Official Rates
In a significant breakthrough, an agreement has been reached to maintain official flour prices across wholesale and retail markets as well as flour mills. These negotiations took place during a meeting chaired by the Commissioner of Karachi with the Flour Mills Association.
Reductions in Flour Prices
As a result of these discussions, the official rates for flour have been implemented, bringing about a tangible reduction in prices. The wholesale price of fine flour has been reduced by 11 rupees, now standing at Rs130 per kilogram, with the retail price set at Rs134 per kilogram.
For two and a half cups of flour, a reduction of Rs8 has been implemented, establishing the wholesale price at Rs120 and the retail price at Rs127 per kilogram.
Furthermore, wheat prices have seen a decrease, with a drop of Rs5 per kilogram for locally produced wheat, now priced at Rs105 per kilogram. Imported wheat has also become more affordable, experiencing a reduction of Rs3 per kilogram, with the new price set at Rs97 per kilogram.
These reductions in wheat and flour prices are expected to have a ripple effect on various bakery products. The costs of bread, double bread, and other baked goods are anticipated to decrease, offering consumers welcome relief in their household expenses.
To address and discuss the implications of these price changes, the Commissioner of Karachi has summoned bakery owners and bakers for a meeting scheduled for Saturday. This meeting aims to ensure that the benefits of reduced flour and wheat prices are passed on to consumers and that the local bakery industry thrives in this new economic environment.
In summary, the successful negotiations between the Commissioner and flour mills in Karachi have resulted in a significant reduction in flour and wheat prices, offering relief to consumers and setting the stage for more affordable bakery products in the region.
