Food Factories Stop Buying Flour as Prices Register Fivefold Increase

The unexpected announcement of a fivefold increase in the price of flour used by food factories has led to their procrastination in purchasing raw materials. 
They are expected to suspend production for 15 days, as no factory has bought the flour at the new price, the Persian daily Jahan-e Sanat reported on Tuesday.
“Officials in charge of this matter should be held accountable for their poorly planned decision,” said the head of the Association of Flour Producers, Mohammad Reza Mortazavi.
The prices of pasta and other products such as cakes and cookies will double due to the government’s hasty decision to change the guaranteed purchase price of wheat; the selling price of wheat to the industry has increased by up to 120,000 rials (about $0.4) per kilogram.