Flour and wheat flour still dearer despite global wheat price plunge

Retail prices of wheat and wheat products such as flour and wheat flour remain high in the country despite international wheat prices falling below pre-Russia-Ukraine war levels. Before the Russia-Ukraine war in February last year, a 2kg packet of wheat flour was available at Tk90 and flour at Tk100-105 in the local market, but the prices went up to Tk120 and Tk140, respectively, a month after the war had began. At that time, traders attributed the rapid price rise to the costly global wheat. Russia and Ukraine are two of the world's largest wheat producers. After the war had started, prices of several food crops including wheat, corn, and other items soared worldwide. However, since then, the price of wheat has come down significantly on the international market but the prices of wheat flour and flour remain the same now in Bangladesh. According to IndexMundi, a US-based comprehensive data portal, the current booking price for wheat (US-HRW-soft) is $229.46 per tonne in the ...