Prices of flour still high in local mkts
Monday, 1 December 2008
Mahmuda Shaolin
Prices of flour are still high in the country's wholesale and retail markets despite substantial fall in the prices of wheat in the international market.
Sources said prices of wheat in the international market declined by over 82 per cent during the last two months due mainly to a fall in the demand of the food grains worldwide.
Price of wheat came down to US$290 per tonne in November from around US$530 in September in the international market, millers said Sunday.
"We imported wheat at $ 530 per tonne in September last but now the price came down to $290 for high protein quality and $190 for lower quality following large production of wheat," S K Wazed Ali, president of Narayanganj Atta-Flour Mill Malik Samity, told the FE Sunday.
"We mainly import flour from Canada, Australia, Russia and Ukraine, but flour prices have dropped there as the wheat prices declined in the international market," he said
"Locally, we sold flour at Tk 45 per kg in the wholesale level in early November but now, at the end of November, we are selling a kg flour at Tk 19, he added.
Replying to a question, he said that there is no impact in the country's retail level because all kinds of bakers use the high protein quality flour to make their loaves.
He expressed the hope that the prices will come down in the retail level very soon.
Rising international wheat prices during the second half of 2007 and early this year saw flour prices increasing locally in May-June of this year.
Wazed Ali, also owner of Lokkha Flour Mill, said the importers purchase around 75 to 80 per cent wheat from abroad to meet the country's demand. Locally produced wheat meets the rest of the demand of flour.
According to the country's different millers, prices of flour varies between Tk 20 and Tk 25 per kg at mill-gates but the prices at the retail level are Tk 32 to Tk 33 per kg.
A medium size loaf of bread is being sold at Tk 30 while a big size is sold between Tk 50 and Tk 55 at the city's different bakeries, according to the sources.
Customers are expecting an even greater reduction in the price of wheat and flour, since the price of this commodity on the international market continued to fall, said Roshana Begum, a housewife of the city's Malibagh area, who was buying a loaf of bread to give her school-going daughter as tiffin.
Prices of flour are still high in the country's wholesale and retail markets despite substantial fall in the prices of wheat in the international market.
Sources said prices of wheat in the international market declined by over 82 per cent during the last two months due mainly to a fall in the demand of the food grains worldwide.
Price of wheat came down to US$290 per tonne in November from around US$530 in September in the international market, millers said Sunday.
"We imported wheat at $ 530 per tonne in September last but now the price came down to $290 for high protein quality and $190 for lower quality following large production of wheat," S K Wazed Ali, president of Narayanganj Atta-Flour Mill Malik Samity, told the FE Sunday.
"We mainly import flour from Canada, Australia, Russia and Ukraine, but flour prices have dropped there as the wheat prices declined in the international market," he said
"Locally, we sold flour at Tk 45 per kg in the wholesale level in early November but now, at the end of November, we are selling a kg flour at Tk 19, he added.
Replying to a question, he said that there is no impact in the country's retail level because all kinds of bakers use the high protein quality flour to make their loaves.
He expressed the hope that the prices will come down in the retail level very soon.
Rising international wheat prices during the second half of 2007 and early this year saw flour prices increasing locally in May-June of this year.
Wazed Ali, also owner of Lokkha Flour Mill, said the importers purchase around 75 to 80 per cent wheat from abroad to meet the country's demand. Locally produced wheat meets the rest of the demand of flour.
According to the country's different millers, prices of flour varies between Tk 20 and Tk 25 per kg at mill-gates but the prices at the retail level are Tk 32 to Tk 33 per kg.
A medium size loaf of bread is being sold at Tk 30 while a big size is sold between Tk 50 and Tk 55 at the city's different bakeries, according to the sources.
Customers are expecting an even greater reduction in the price of wheat and flour, since the price of this commodity on the international market continued to fall, said Roshana Begum, a housewife of the city's Malibagh area, who was buying a loaf of bread to give her school-going daughter as tiffin.