In Pakistan, the private sector has achieved a significant milestone in the wheat import process by procuring over one million metric tons from foreign sources. Importers and flour mill owners in Sindh and Punjab have made reservations for 18 cargo ships to arrive in Karachi by December, and more shipments are in progress.
Following the depreciation of the US dollar, wheat importers have slashed the ex-Karachi price of wheat by Rs. This reduction in price is attributed to imported wheat being Rs 400 cheaper per maund compared to locally sourced wheat.
Currently, six groups, consisting of flour mill owners and importers from Sindh and Punjab, are actively engaged in importing wheat. The price of imported wheat continues to decrease due to intense competition in the business sector and the ongoing devaluation of the dollar.
To provide some price context, as of yesterday, imported wheat was priced at Rs 4,332 per maund in Lahore, Rs 4,400 per maund in Rawalpindi Islamabad, Rs 4,228 per maund in Rahim Yar Khan, and Rs 4,408 per maund in Peshawar. In contrast, locally produced wheat was priced at Rs 4,650 in Lahore, Rs 4,750 in Rawalpindi, and Rs 4,625 in Rahim Yar Khan. Additionally, a 20 kg bag of flour was available for Rs 2,750 in Lahore and Rs 2,720 in Rawalpindi.
Furthermore, it is important to note that Federal Secretary National Food Security, Captain (Rtd) Mahmood, has issued strict directives for the enforcement of Standard Operating Procedures (SOPs) to ensure the quality of imported wheat.
