Punjab achieves about 25pc of wheat procurement target

LAHORE: The Punjab Food Department has achieved nearly one-fourth of wheat procurement target, buying over one million tonnes of grains. Gunny bags equivalent to over 50 percent of 4.5 million tonnes provincial wheat procurement target have also been distributed so far.

According to an official of provincial food department, 1.05 million tonnes of wheat had so far been procured, which is 23.45 percent of target. The department managed to purchase 0.47 million tonnes from Bahawalpur Division until April 28, which is 55.9 percent of 0.85 million tonnes target.

Among the division, 0.27 million tonnes equivalent gunny bags issued while 46.10 of targeted wheat procured in Bahawalpur District. In Rahim Yar Khan, 0.16 million tonnes of gunny bags have been distributed, while 55.20 percent wheat has so far been procured.

Wheat buying activity is not as robust as in other divisions of Southern Punjab in DG Khan Division where so far 0.23 million tonnes wheat have been procured. Around 0.11 million tonnes of gunny bags have been issued while 25 percent of wheat has been procured out of 0.19 million tonnes target in DG Khan District.

In Rajanpur District, 0.18 million tonnes gunny bags were distributed while 50 percent of targeted wheat was procured out of 0.20 million tons target. In Muzaffargarh, gunny bags equivalent of 0.11million tonnes have been distributed while 22.51 percent of targeted wheat was procured.

When attention of a grain market expert was diverted towards pace of wheat procurement, he observed: So far so good as Punjab is on track for achieving procurement target in the province. There is no need to get panicked due to huge procurement target and odds of adverse weather.

He maintained that Punjab can reach very close of 4.5 million ton target in the third week of May if present momentum is maintained by the provincial Food Department. The market expert was of the view that parallel channel of wheat purchase by genuine flour mills should be allowed so that flow of grain could be smoothened. It is important to encourage arrival of wheat into market by making it lucrative though fielding various buyers in the market. This act will also discourage hoarders and black-marketers of wheat, he observed.