The National Price Monitoring Committee (NPMC) met on Wednesday where it showed concerns about rising sugar and Pulses prices in the country and ask to build up strategic stocks of legumes/Pulses.
Federal Minister of Finance and Revenue Shaukat Tarin chaired a meeting of the National Price Protection Committee. NPMC was briefed on sugar prices and stocks in the country and expressed concern about the increase in sugar prices in various cities. It was told that the slight increase in prices was due to supply disruptions caused by rain and fog.
NPMC was also informed of rise in pulses’ prices and was informed that prices for other pulses, with the exception of mung bean prices, increased mainly due to exchange rate fluctuations and higher freight rates. In addition, the release of the domestic production of Gram Pulse will reduce its price in the near future. The Minister of Finance expressed concern about the rise in prices for legumes and inquired about the development of the production of legumes in the world. He instructed the Ministry of Food Security and Research to create strategic pulp reserves, taking into account the lowest prices in the world pulses market. He also ordered the Department of Food Security and Research and county governments to take innovative measures to ensure an uninterrupted supply of legumes at affordable prices.
The committee was informed about wheat flour prices and welcomed the stability of wheat flour prices and the availability of sufficient wheat reserves in the country.
An official Finance Ministry told NPMC’s about the weekly SPI, which rose marginally 0.08% during the week, up from 0.50% in the previous week. It was found that 33 foods contributed to a -0.14% decrease in normal rainfall and a 0.22% increase in 18 non-food items. In 07, commodity prices fell, resulting in a 0.46% decline in the food processing index. Over the week, prices for tomatoes fell by 0.11%, for paprika powder – by 0.26%, for eggs – by 0.05%, for other prices – by 0.04%.
NPMC learned that prices for 22 products remained stable, while prices for 25 products increased, increasing SPI by 0.54%. Potatoes rose in price by 0.03%, chicken by 0.12%, gasoline by 0.21% and others by 0.18%.
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