Bumper wheat crop to lower flour prices

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Karachi óBumper wheat crop expected to cross estimated size of 24 million tons this year should help flour price cut to make life easy for the low income families.

This was stated by Mr. Iqbal Dawood Pakwalla, Acting President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in a meeting with a delegation of the All Pakistan Flour Mills Association (APFMA) in Karachi

APFMA delegation comprised of Chaudhary Ansar Javed, Chairman Sindh Zone, APFMA, Mr. Pyare Lal, Mr. M. Yousef and Mian Hasan discussed recent developments in the market for wheat flour prices.

Mr. Pakwalla said that wheat was one of the most important crops of Pakistan , with acreage of 8.8 million hectares and annual production of 24 million tonnes. At the same time, wheat flour, or atta, was the staple food of the country, supplying a major part of the nutritional requirement in the average Pakistani diet. In view of the importance of atta, it was important to ensure that less-privileged households had sufficient access to this essential commodity, which was subject to seasonal fluctuations in price and availability

During the meeting, Mr. Pakwalla expressed the hope that the crop of wheat this year would be more than the production estimate, which is likely to push the price of wheat products downward.

Courtesy: Pakistan Observer