Weekly inflation: No reduction in prices despite massive import of sugar, wheat: survey

ISLAMABAD: Despite massive import of sugar and wheat the commodities prices have witnessed no reduction, a survey carried out by Business Recorder revealed here on Saturday.

The survey noted that sugar price in wholesale market is still hovering over Rs5,000 per 50kg bag and being sold at Rs5,050 per bag while wheat flour 15kg in wholesale costs Rs980 per bag, which in retail is being sold at Rs1,000 per bag, showing no reduction.

The survey observed that the sugar wholesalers are mixing imported sugar with local, and selling on high prices but authorities concerned as yet have taken no action against the profiteers.

Sugar and wheat flour prices have witnessed uninterrupted increase since February 1, 2020 as it witnessed a jump of Rs550 per 50kg bag by jumping from Rs3,500 per 40kg bag to Rs4,025 per 40kg bag, which in retail market at that time was being sold at Rs85 per kg.

Sugar price since February has witnessed an increase of Rs1,650 per bag or Rs33 per kg, and authorities badly failed to stabilise the commodity prices.

Eggs price during the week under review also witnessed an increase going up from Rs4,920 per carton to Rs5,040 per carton of 12 trays, each tray with 30 eggs in the wholesale market.

In retail market, eggs are being sold Rs170-180 per dozen. While Lipton Yellow Label half kg pack price remained stable at Rs560.

Chicken price also remained unchanged at Rs8,400 per 40kg, which in retail is being sold at Rs235 per kg, while chicken meat is being sold at Rs360 per kg.

No changes were witnessed in the prices of ghee and cooking oil as b-grade ghee/cooking oil in wholesale market is available at Rs2,880 per carton, which in retail is being sold at Rs190 per 900 gram pack.

While best quality ghee/cooking oil prices witnessed no change as good quality ghee/cooking oil is available at Rs260 per litre.

Rice prices also remained stable as best quality Basmati rice is available at Rs4,050 per 25kg bag, which in retail is being sold at Rs180-200 per kg, while normal quality basmati rice per 25kg bag is available at Rs3,600, which in retail is being sold at Rs150-160 per kg.

Prices of all the pulses during the week remained unchanged as moong is available at Rs9,400 per 40kg bag, which in retail is being sold at Rs250 per kg, lentil mash at Rs9,000 per 40kg, which in retail is being sold at Rs240 per kg, lentil gram price at Rs5,150 per 40kg, which in retail is being sold at Rs150 per kg, best quality bean lentil at Rs9,300 per 40kg, which in retail is being sold at Rs250 per kg, masoor lentil at Rs4,800 per 40kg, which in retail is being sold at Rs140 per kg, and whole gram lentil at Rs4,800 per 40kg, which in retail is being sold at Rs140 per kg.

No changes were witnessed in milk prices during the week under review as packed milk prices including Nestle milk pack and Olpers are being sold at Rs40 per 200ml pack. Spices price is stable at Rs75 per 50 gram pack, while red powder chillies price reduced from Rs850 per kg to Rs750 per kg, and turmeric powder price from Rs380 per kg to Rs300 per kg.

No improvement in availability of sugar and wheat flour was observed at majority of the Utility Stores Corporation (USC) outlets especially in rural areas of Rawalpindi/Islamabad.

People have complained that wheat flour and sugar available on the USC outlets are substandard. The survey found an increasing trend in the prices of vegetables as onion price went up from Rs325 per 5kg to Rs350 per 5kg, which in retail are being sold at Rs80 per kg against Rs75 per kg, potato price went further up from Rs375 per 5kg to Rs400 per 5kg, which in retail are being sold at Rs90 per kg against Rs85 per kg.

However, tomato price witnessed a reduction, coming down from Rs2,000 per basket of 13kg to Rs1,700 per basket, which in retail are being sold at Rs125 per kg against Rs150-160 per kg.

Spinach price is stable at Rs20 per bundle, and peas price went further down from Rs700 per 5kg to Rs550 per 5kg.

Copyright Business Recorder, 2020