Global Rice News

Pakistani Traders Import Over 1.3 Million Metric Tons of Wheat to Address Shortage

KARACHI: Pakistani traders have finalized deals for the import of over 1.3 million metric tons of wheat to meet the domestic demand and stabilize commodity prices. Out of this quantity, approximately 0.6 million tons of wheat imported by the private sector has already reached Pakistan, according to importers.

Due to a shortage of wheat grains in the country, the government has allowed the private sector to import wheat without subsidy for the past two months in order to bridge the supply and demand gap in the local market.

Business Recorder’s market sources have revealed that Pakistani traders have booked around 25 vessels for importing wheat in the past two months. Out of these, 10 ships carrying approximately 0.6 million tons of wheat have already arrived in Pakistan and are being dispatched to different cities of the country.

Decrease in Wheat Prices Expected

Traders have informed that wheat is being imported from Russia, Romania, Bulgaria, and Ukraine at a price range of $280 to $290 per metric ton. The wheat from these regions is of similar quality to Pakistani wheat.

With the arrival of imported wheat, wheat flour prices in the domestic market are gradually decreasing and are expected to further decline in the coming months. All government departments, particularly the Department of Plant Protection (DPP), are fully facilitating wheat imports to ensure the timely availability of wheat in the domestic market, the traders added.

Positive Interaction with DPP

Recently, a delegation of wheat importers led by Muzzammil Rauf Chappal, Chairman of the Cereal Association of Pakistan (CAP), along with leading commodity traders Safdar Mehkari, former Chairman of the Rice Exporters Association of Pakistan (REAP), Imam ud Din Qamar, Rubail Ali, and Umer, met with the Director General (DG) of the DPP, Dr. Allah Ditta Abid. They appreciated the support of the DPP in facilitating wheat import.

The Chairman of CAP, Muzzammil Rauf Chappal, expressed his gratitude for the full cooperation and facilitation extended by the DG of DPP in the import of essential commodities.

Chappal confirmed that Pakistani importers have finalized deals for the import of 1.3 million metric tons of wheat, out of which 0.61 million tons have already arrived, while around 15 vessels carrying imported wheat are expected to arrive in November.

He further highlighted that the private sector has always supported the government to avoid any commodity shortage in the country. With sufficient stocks of wheat grains now available in the country, there is no threat of a shortage in the domestic market, according to Chappal.

Sources:

• Source: Business Recorder