Wheat import registers increase in last 11 months


Business Recorder

Country's wheat imports went up by 367,872 metric tons to 377, 402 metric tons in the last 11 month of financial year 2013-14, according to a report of Pakistan Bureau of Statistic. "In terms of value, Pakistan has managed to import wheat, amounting to $107.237million, during July- May 2013-2014 up by $100.401m ie 1, 468.71 per cent as compared to $6.83m in FY13," the report further indicated.

A wheattrader said: "The rate of Ukraine's wheat is low that is $265 per metric ton, therefore, despite being buffer production, Pakistan is importing high quantity of wheat to balance last year's export of wheat from Pakistan." He added that the rate of Pakistan's wheat has increased to $300 per metric ton and, as such, international market has stepped back from buying wheat, although the quality of wheat is much better than the wheat from Ukraine, India and Sri-Lanka. Moreover, there is unchecked trade of wheat from Balochistan to Afghanistan by road which is considered as smuggling, he said, adding that a huge quantity of wheat has been smuggled to Afghanistan due to low production of wheat in Afghanistan and Kazakhstan, this year. This rampant trade caused shortage of wheat in many areas of country, resulting in to import of wheat from international market. "

However, despite having bumper and surplus production, the PBS report showed that Pakistan's exports of wheat and sugar remained on downward track as their exports reported 86.79 per cent and 46.12 per cent decrease, respectively. During the period from July-May, 2013-14, country managed to export 20,142 metric tons of wheat worth $7.05million as compared to 168,874 metric tons of July-May 2012-13 which amounted to $53.4million. The data further showed that in last 11 months of last fiscal year the exports of sugar was witnessed at 581, 080 metric tons, costing $255.8m, as compared to the last year's exports of 948, 964 metric tons worth $474.76m ie decline of 46.12 per cent of same period of last year.

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