1.4m tonnes of wheat due in Dec-Feb

Updated 20 Nov 2020

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The Ministry of National Food Security and Research said on Thursday that seven vessels carrying around 400,000 tonnes of wheat will dock at Karachi port this month. — Reuters/File
The Ministry of National Food Security and Research said on Thursday that seven vessels carrying around 400,000 tonnes of wheat will dock at Karachi port this month. — Reuters/File

ISLAMABAD: Saying that flour price was showing downward trends with the improved supply of wheat, the Ministry of National Food Security and Research said on Thursday that seven vessels carrying around 400,000 tonnes of wheat will dock at Karachi port this month.

Furthermore, 20 ships carrying 1.4m tonnes of wheat have been booked and scheduled to reach Karachi in the months between December and February, the ministry says in a statement. Import of wheat is being made through the Trading Corporation of Pakistan on behalf of Passco, Punjab, Khyber-Pakhtunkhwa and Sindh.

ECC had allowed TCP to import 1.50m tonnes of wheat. On the request of provinces, the federal government enhanced the quantity of imported wheat up to 2.2m tonnes to ensure uninterrupted supply of wheat at affordable prices.

The ministry says that provincial food departments have reported downward trends in the retail market prices of wheat and wheat flour. The prices of local and imported wheat have decreased around Rs200 per 100kg. The price of imported wheat in Karachi has reduced from Rs4,900 per 100kg to Rs4,700 per 100kg.

In Rawalpindi area, wheat price has decreased from Rs2,400 per 40kg to around Rs2,200 per 40kg. The prices of wheat flour are controlled by the respective local administration. Provincial Food Departments of Punjab, Sindh and Khyber-Pakhtunkhwa have fixed the release price of wheat at Rs1,475 per 40kg. The controlled price of flour in Punjab and KP is Rs43 per kg (Rs860 per 40kg) while Rs52 per kg in Sindh.

The super fine atta is being sold at Rs60kg in Punjab, Rs58 per kg in Sindh and Rs65 per kg in KP. Furthermore, the food departments have enhanced the release of wheat to flour mills from 30,000 tonnes in the previous week to 40,000 tonnes as of Nov 19.

However, this quantity varies as per the requirement of the flour mills.

It is expected that due to arrival of more wheat in the upcoming months, prices of wheat and fine flour will be further reduced, the ministry concludes.

Published in Dawn, November 20th, 2020