With bumper crops, Pakistan becomes wheat exporter
22 Oct 2012
With bumper crops for the last four years, Pakistan has become a wheat surplus and exporting country, and traders have been exporting the grain during recent months.
''During the current year, the public sector wheat stocks were 9.30 million tonnes, including current procurement of 5.79 million tonnes and last year carry-over stocks of 3.51 million tonnnes,'' an official release said today.
The public sector on average annually releases 6.5 million tonnes to flour mills and other agencies/areas. Maintaining a strategic reserve of one million tonnes, the country is left with 1.80 million tonnes surplus. Thus the country is quite comfortable in wheat supply during the current year.
''In view of the sound supply position, the government has allowed private sector to export wheat and its products. It is reported that private traders have exported wheat and its products from the open market in recent months in the wake of rising prices in the world market. A major portion of these exports comprises wheat flour, accruing value addition receipts to the economy,'' the release said.
''The government has opened release of wheat to the flour mills with effect from 1 September last year. However, as per report of provincial food, departments, the releases are slow this year as compared to last year, indicating that some stocks of wheat are available with the private sector. This will further improve the availability of wheat stocks,'' it said.
The release price is being regularly monitored by the provincial food departments and is adjusted in line with the emerging domestic and world situation to ensure ample supply of the staple foodgrain for the sake of food security at home, it said.
Pakistan had an all-time record production of 25.21 million tonnes of wheat in 2010-11. For the year 2011-12, the wheat crop was estimated at 23.52 million tonnes, it said.
Wheat is not only the major staple foodgrain but also the food security crop of Pakistan. Being a very sensitive commodity, a small change in its price and availability has a considerable impact on consumers, especially the poor. Hence the government is greatly concerned with its supply and demand situation.
.webp)
