ISLAMABAD:The strategic wheat reserves of the country recorded at 9.203 million metric tons as public sector attained stocks comprising over 8.618 million metric tons and private sector 1.474 million metric tons, which was sufficient to meet the domestic consumption.
The domestic wheat reserves would further beefed up as the Economic Coordination Committee (ECC) of the Cabinet in its last meeting had allowed the import of 500,000 tons of wheat, said Food Security Commissioner in the Ministry of National Food Security and Research Dr Imtiaz Ali Gopang.
Talking to reporter here on Wednesday, he said that the Ministry of National Food Security and Research had submitted a summary relating to award of second international wheat tender 2022 for 500,000 metric tons.
The ECC considering the lower trend of wheat in the international market approved the lowest bid offer of M/s Cargill International PTE /Cargill Agro Foods Pakistan at the rate of US$ 439.40 metric tons for 110,000 metric tons +/- 5% MOLSO to the extent of 500,000 metric tons, he added.
Meanwhile, the domestic carry forward stocks of wheat were registered at 2.030 million metric tons, he said adding that about 6.587 million metric tons of grains procured during last procurement campaign to build up the strategic reserves for the country.
In order to maintain the smooth supply of wheat and flour in local market as well as price stabilization, the government had so far released 889,594 metric tons of wheat to millers, he said adding that private sector had also procured about 2,490,671 metric tons of wheat and out of the total about 1,016,184 metric tons grained to produce flour and other value added products.
He said that Food Year starts from May 1 to April 30 every year and government released about 46,300 metric tons per-day in order to keep demand and supply of the commodity at smooth and providing wheat flour at sustainable prices.
These releases included 25,000 metric tons by Punjab, 10,000 metric tons by Sindh, 5,000 metric tons by Khyber Pakhtunkhwa, 1,000 metric tons by Balochistan and average release of 5,300 metric tons by PASSCO, he added.
Regarding the pricing trend of wheat flour in local markets during last month, he said that its was recorded at Rs62 per kg maximum and Rs60 per kg minimum, where as the flour prices in local markets on average basis was recorded at Rs61.05 per kg by the first week of current month (July).
Imtiaz Ali said that federal government was taking measures for enhancing vigilance in collaboration with provincial governments to discourage smuggling and hoardings of the commodity to ensure provision of the commodity on sustainable prices.