Pakistan is on the way to be a net importer of wheat
11 September 20132 min reading
Decline of the local production of wheat drags Pakistan to the position of being a net importer. The country is expected to import nearly 1 million tons of wheat this year. This amount is the highest value in the last 5 years.
The delayed planting and reduced fertilizer usage decreased the wheat production in Pakistan. The country is expected to ship in 800,000 tons to 1 million tons of wheat till March 2014. This amount is stated to be the highest wheat import by Pakistan for the last 5 years. Pakistan’s purchase such a huge amount is interpreted as the switching to the position of being a net importer as it has been importing wheat for the three years.
It is expressed that Pakistan will buy most of its supply from the Black Sea Region due to the competitive prices.
“We are have just finished the harvest and one would imagine that everything is alright but prices are moving higher. There is shortfall in the market as our production was well below the government’s target and there has been drawdown in stocks.” said a Karachi-based grains trader in his statement for Reuters.
Wheat production in Pakistan slid to 23.3 million tons in 2012/13, the lowest in four years and down from 25 million tons a year ago, according to the U.S. Department of Agriculture. Output in 2013/14 is estimated at 24 million tons.
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