Flour prices soar to a record high in Pakistan

Flour prices have seen a sharp rise across Pakistan in recent weeks, according to data from the Pakistan Bureau of Statistics (PBS).

Several regions of the country have seen flour prices rise to record levels, with a 20-kilogram bag registering a mind-boggling price increase by as high as Rs1050 in the last three weeks alone to as high as Rs2500 in some markets. The most recent data from the Pakistan Bureau of Statistics show stark differences in the escalation in price in different cities. Bannu recorded the highest increase, where the price of the 20-kg bag increased by Rs1050. Peshawar and Larkana were next at Rs900 each. Sukkur prices increased by Rs840. In Lahore, it climbed Rs830 and in Multan the hike reached Rs826.

Similarly, Gujranwala and Sialkot saw an increase of Rs817 per bag. In Islamabad, flour increased by Rs800 and Rawalpindi and Quetta also saw an increase of Rs740 each. Bahawalpur was also severely impacted by price increases, with 20-kilogram flour bags averaging Rs866.67 increases in cost.

Officials and market analysts have cited the devastation of the Punjab floods, the country’s main wheat-producing province, as reason for this sudden spike. The floods have hindered the movement of wheat stocks, and caused an increased supply defect it flour mills, consequently limiting the availability of flour in some of the main markets. The drastic increase in flour prices are adding to the inflationary environment, exacerbating the financial burdens on households, middle class households, struggling with the rising prices of basic commodities. Now the authorities are triggering immediate action to resolve the crisis and restore supply chains.