Food inflation storm rattles consumers: Commodities set to get more expensive – Markets

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KARACHI: A storm of food inflation is set to shake consumers as a variety of pulses are already taking the lead with a sharp price hike in the city’s retail markets, importers and retailers said on Saturday.

“The wholesale market’s response to the relentless rise in the price of heating oil by Rs60 per liter and the rise in the rate of the dollar against the Pakistani rupee is slow to reflect food inflation at present,” said Anis Majeed, a top pulse importer, told Business Recorder that edibles are going to get more expensive sooner rather than later. Channa (pulses) alone sees an increase of Rs 4 per kg increase in the wholesale market, he said that “all varieties of imported pulses will also see a price increase in the retail markets”. According to him, nearly 70% of legume varieties are imported.

He also attributed the food inflation to the current economic uncertainty with the rising rate of the dollar against the Pakistani rupee, saying businesses are facing a “difficult and unpredictable” situation.

In the retail market, prices for various pulse products have risen between 40 rupees per kg and 80 rupees per kg, causing poor consumers to negotiate hard, said Muhammad Zubair, a grain vendor in the retail based in Keamari. company registrar. It is important to mention that the prices of raw materials can vary in different parts of the metropolis.

“The price of ghee will go up,” he said. Malaysia, which is Pakistan’s top edible oil supplier, has halted sales of the product for two months, which will put pressure on the local market.

Similarly, there is an official ban on bulk ghee sales, which has also caused the market to rely more on branded products affecting the poor “worst”. “Previously, the poor consumer would buy one kilogram of ghee at his financial capacity, but after the ban, he has to buy a five-kilogram bag, which increases his cooking cost,” he added.

Pulses, he said, are available at higher rates following the economic downturn with rising gasoline prices and growing disparity in dollar value with the local currency unit. Today, daal Channa sells for Rs 240 per kg, up from Rs 40; daal masoor for Rs300 per kg, up from Rs80; daal maash for Rs320 per kg, up from Rs70; Channa white for Rs320 per kg, up from Rs60; Black Channa for Rs200, up Rs40 and Kabuli Channa for Rs360 per kg, up Rs80. However, the price of daal moong is selling at Rs 135 per kg which is unchanged.

Sela rice (brand 1121) has become more expensive by Rs80 to Rs260 per kg, branded edible oil by Rs70 to Rs570-606 per litre, wheat flour by Rs100 to Rs780 per 10 kg. “Wheat flour is becoming scarce due to official district-based supply and sales delineations,” Zubair said, fearing edibles could rock consumers with a storm of rising prices in the coming days. due to the fall in the value of the rupee. , rising fuel oil prices and the global market situation.

Copyright Business Recorder, 2022

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