LARKANA: 1.6 mn tonnes of wheat damaged in rains: Severe rains damaged around 1.6 million tonnes of wheat stock, stored in government warehouses in the Larkana division on Tuesday.
As per details, the Sindh government failed in saving wheat stock during the recent rains and 600,000 tonnes of wheat stock, stored inside warehouses and ten lacs of wheat lying in the open sky in the Larkana district were completely damaged.
Due to damage to the wheat stock, it is feared that flour prices will hit Rs200 per kg in the near future, which is currently being sold at Rs120 per kg.
Meanwhile, the hoarding of wheat is also underway after the Sindh government fixed the Rs4,000 wheat support price.
Earlier, Karachi Wholesalers Grocers Association (KWGA) Chairman Abdul Rauf Ibrahim expressed fear of a flour crisis across the country and inflated prices up to Rs200 per kg.
KWGA Chairman Abdul Rauf Ibrahim revealed that the country is likely to witness a flour crisis in the coming days. He said that the flour prices are likely to be jacked up by Rs200 per kg.
1.6 mn tonnes of wheat damaged in rains
Worst rains & floods in history with major loss of cotton, wheat & rice, will have $5-8 Bn addnl impact on CAD. The current funding arrangements with IMF etc are unlikely to be sufficient. Fiscal account will also be impacted. Best to renegotiate. @MiftahIsmail @StateBank_Pak
— The Pakistan Business Council (@ThePBC_Official) August 27, 2022