17 percent increase in average retail price of wheat flour in last one year

New Delhi: Compared to rice and sugar, the average retail price of wheat flour has increased by 17 percent in the last one year. Currently, the price of rice is Rs 37.96 per kg. While the price of sugar is Rs 42.69 per kg. According to information received from the Ministry of Consumer Affairs, the average retail price of wheat flour was recorded at Rs 36.98 per kg on Wednesday, which is 17.51 ​​per cent higher than Rs 31.47 per kg in the same period last year.

The reason for the increase in the price of flour is the increase in the price of wheat. The price of wheat has increased by 12.01 percent in the last one year. Where the price of wheat was Rs 28.34 per kg a year ago, it has now increased to Rs 31.77 per kg.

According to experts, the domestic price of wheat is increasing due to the decrease in domestic production and increase in global demand in the wake of the Ukraine-Russia war. Meanwhile, the government said it is keeping a watch on wheat prices and will take steps to curb it if there is an unusual surge in its prices in the retail market.

The government said wheat and rice stock positions are comfortable and above the government's buffer requirements, amid concerns over a rise in wheat prices despite the export ban.

In May, the government banned wheat exports to boost domestic supply and control prices. Due to decline in domestic production and aggressive buying by private parties, the government's purchase of wheat fell from 434.44 lakh tonnes to 187.92 lakh tonnes in the marketing year 2022-23.

The estimated stock of wheat as on April 1, 2023 is 113 lakh tonnes against the buffer standard of 75 lakh tonnes. In case of rice, stocks at the beginning of the next financial year are estimated at 237 lakh tonnes against the buffer standard of 136 lakh tonnes.