100kg wheat price hits record Rs13,100 in Hyderabad

The price of a 100-kilogram bag of wheat in Hyderabad's open market has reached a record Rs13,100, increasing by Rs600 in just two days and raising fears that the price of flour could cross Rs160 per kilogram. The sharp increase has been attributed by flour millers and flour-chakki owners to the delay in the release of the government wheat quota, with concerns that continued price increases in the open market could push flour prices to Rs170 per kilogram in the coming days. According to market sources, a 100kg bag of wheat was available for Rs12,500 on Saturday. Its price increased by Rs300 to Rs12,800 on Sunday and rose by another Rs300 on Monday to reach Rs13,100, described by traders as the highest-ever price recorded in the open market. Flour mills and chakki owners in Hyderabad are currently purchasing wheat from the open market as they have not been receiving wheat under the government quota. The higher cost of wheat has already affected flour prices. Chakki owners are selling flour at around Rs155 per kilogram at wholesale rates, while retailers and general stores are charging approximately Rs160 per kilogram. According to flour-chakki owners, if wheat prices are not brought under control, flour could reach Rs170 per kilogram in Hyderabad. The Sindh government has announced a policy for releasing wheat stocks stored in government warehouses, but the official price has yet to be determined. The provincial cabinet had initially announced that the government wheat quota would be released on October 1. However, the decision was later revised, and the release date was moved to October 20. Flour-chakki owners said the delay has created an opportunity for traders and hoarders to increase wheat prices in the open market. They claimed the price has been rising almost daily, directly affecting consumers. They also said that the cost of producing one kilogram of flour at a chakki is around Rs35, while the deputy commissioner has approved only Rs24 as the cost component to be included in the price. Haji Muhammad Memon, president of the Flour Chakki Owners Social Welfare Association, told the Express that an artificial shortage of wheat had been created in Hyderabad's open market. He claimed that even at Rs13,100, wheat was difficult to obtain and warned that hoarders could push prices even higher in the coming days. Memon urged Sindh Chief Minister to ensure the immediate release of the government wheat quota, warning that continued shortages could lead to a further increase in flour prices across Hyderabad and other parts of interior Sindh.