Prices of most commodities drop

Retailers, wholesalers, take plea of having old stocks, do not reduce rates

KARACHI:

Decline in prices of petroleum products and strengthening of rupee against dollar have led to a slowdown in inflation. Food prices continue to fall, but multinational companies, selling packaged goods, are not ready to bring down the prices of their products to provide relief to the public.

Prices of sugar, flour, ghee, pulses and rice have started decreasing on a daily basis at the wholesale level, however, the trend of profiteering at the retail level continues

According to chairman Karachi Wholesale Grocers Group, Abdul Rauf Ibrahim, prices of food items are decreasing rapidly due to decrease in prices of petroleum products, increase in the value of rupee and crackdown by the authorities against hoarders and profiteers. However, there is a need of stricter measures to provide relief to the general public.

He pointed out that wholesale price of sugar has fallen to Rs128 on Friday while ex-mill price of sugar is Rs124. The price of wheat stands at Rs95 per kg while flour is being sold at a higher price while it should be Rs110 per kg.

Flour mills are selling fine flour at Rs131 and extra fine at Rs144 down from Rs180 and Rs200 respectively.

He said that price of rice is also decreasing significantly due to the arrival of new crop. Rice prices are witnessing a continuous decline at wholesale level.

On the other hand, prices of food items are decreasing at the retail level as well. However, most of shopkeepers are selling items at high prices justifying old stock.

Wholesale prices of rice, flour, pulses and sugar have decreased in Karachi. The price of ghee has also come down by Rs40 to Rs50, and is being sold at Rs530 per litre pouch, down from Rs580. In Karachi, prices of rice, flour, pulses have declined by Rs10 to Rs70 per kg.

In the wholesale market, the price of sugar is decreasing by Rs5 per day. However, at retail level, it is still being sold at Rs135 per kg.

The price of kernel basmati rice and parboiled (sella) has decreased by Rs70 per kg. The wholesale price of rice kernel basmati and sella is Rs250 per kg. But, at the retail level it is still being sold at Rs300 per kg.

The price of white gram has also decreased by Rs50 per kg and price of white gram has become Rs325 per kg, while the retail price of white gram is being charged from Rs350 to Rs380.

Price of brown lentils after a decrease by Rs40 has reached to Rs250 per kg while at the retail level it is being sold at Rs300 per kg. The price of red lentils has decreased by Rs30 and is being sold at Rs270 per kg while at the retail level it is being sold at Rs320 per kg. The price of yellow split peas has decreased by Rs15, and wholesale price is Rs200 per kg, while at the retail level it continues to be sold at Rs240.

After a cut of Rs20, the price of black gram has reached Rs185 per kg, while at the retail level it is being sold at Rs220.

The price of dal mash has been reduced by Rs20 per kg to Rs470.

The price of daal moong has been reduced by Rs10, while the price per kg has gone up to Rs240.

Shopkeepers said that multinational companies increased prices several times a month when the dollar became expensive. However, despite the significant decline in the dollar and reduced transport costs, prices of tea leaves, dry milk, biscuits, soap, detergents and other packaged items have not been reduced.

On the other hand, by justifying the price of flour, the prices of bread, rusk, bun and other breakfast items increased.

Published in The Express Tribune, October 22^nd, 2023.