The staple food of the country—wheat, is going to continue on increasing its price. The cost of a five-kilogram bag of fine flour to Rs700, up from Rs500 on Aug 1 and Rs600 on Sept 1, despite the arrival of the new wheat crop earlier this year.
Some market analysts believe the current wheat crisis is not related to the recent floods in Punjab and other regions, as the new wheat crop was harvested in March/April. However, hoarders, stockists, and investors are reportedly holding substantial wheat stocks, waiting for further price hikes driven by supply and demand dynamics.
