LAHORE: Wheat prices in the open market of provincial metropolis crashed on Tuesday after the provincial food department’s announcement of increasing the quota of wheat to the flour mills from 21,000 metric tons per day to 26,000 metric tons per day.

Sources in wheat trade said that the prices fell to Rs4200 per maund from Rs5400 per maund. The same situation was observed in other markets such as Faisalabad, Gujranwala, Sargodha, Dera Ghazi Khan, Bahawalpur and others as per the rates issued by the provincial agriculture department’s marketing wing today. Flour and fine traders are hoping that the fall in prices would bring down the prices of the commodity considerably soon.

A wheat trader in Baghbanpura area, Sheikh Abdur Rehman said that the prices in all the significant markets such as Haroonabad, Bahawalpur and others had come down to Rs4000 to Rs4200 per maund after the increase in quota from government godowns. He said that it was a big drop in a day in the wheat prices.

Copyright Business Recorder, 2023