The rain in April resulted in rumors that Pakistan may not get Wheat production that resulted in increase of Price of wheat. Sindh Government increase the Prices of Wheat by 50 rupees per 40 KG, but the experiment turned failed. Punjab Government has decided to reduce the Wheat prices in open market which shows a reduction in wheat prices during last 72 hours.
The rain in April resulted in rumors that Pakistan may not get Wheat production that resulted in increase of Price of wheat. Sindh Government increase the Prices of Wheat by 50 rupees per 40 KG, but the experiment turned failed. Punjab Government has decided to reduce the Wheat prices in open market which shows a reduction in wheat prices during last 72 hours.
The abnormal raining trend in April has created some unforeseen atmosphere about Wheat production, while the cutting of wheat in Punjab has reached only 9% as well, that’s create an uncertain situation in open market.
The Food Department has issued packing for 7.87 Lac Ton wheat, which end the uncertain situation that was prevailing in open market. This was a loss to speculator who bought wheat on higher prices in order to get more earnings in shortage of wheat, but now they are also dealing with lower rate of wheat prices.
The expected prices of wheat are likely to fall between 1200-1250 per 40 KG.