Surplus wheat

Wheat is the most important staple food crop of Pakistan and the country is set to exceed the production target of 26 million tonnes for 2015. In view of this, the ECC had allowed the export of 1.2 million tonnes of wheat in 2015. However, traders fear the country will not get a fair price for its wheat export due to a decline in global prices. The sluggish export is also troubling for farmers who think that they will not get the minimum support price fixed by the government for the harvest this year.
According to media reports, the country has a cumulative stock of 5.013 million tonnes as compared to 2.236 million tonnes last year. The import of 700,000 tonnes of wheat in 2014 has caused wheat stocks to pile up. Experts say the price of Pakistan’s wheat remained higher than its competitors in international markets despite the fact that the federal and provincial governments were given hefty subsidies against exports. In view of this there is a need to dispose of the surplus stock quickly.
Khan Faraz
Peshawar