Seeking Relief: Flour millers demand export package
Local wheat exporters are unable to sell existing stocks to international market due to this huge price difference
PHOTO: FILE
LAHORE:
Pakistan Flour Mills Association’s (PFMA) Punjab chapter has demanded the government to announce a Rs50-billion export package to narrow the losses wheat exporters are bearing due to huge price difference in international markets. “The international wheat price currently stands in between $150 to $180 per ton, whereas the price of Pakistani wheat stands at $320 per ton (Rs1,300 per 40kg),” said PFMA Chairman Riaz Ullah Khan. Local wheat exporters are unable to sell existing stocks to international market due to this huge price difference, he added. PFMA group leader Asim Raza said that government has fixed the wheat support price at Rs1,300 per 40kg, which translates to $320 per ton in the international market.
Published in The Express Tribune, January 12th, 2017.
Pakistan Flour Mills Association’s (PFMA) Punjab chapter has demanded the government to announce a Rs50-billion export package to narrow the losses wheat exporters are bearing due to huge price difference in international markets. “The international wheat price currently stands in between $150 to $180 per ton, whereas the price of Pakistani wheat stands at $320 per ton (Rs1,300 per 40kg),” said PFMA Chairman Riaz Ullah Khan. Local wheat exporters are unable to sell existing stocks to international market due to this huge price difference, he added. PFMA group leader Asim Raza said that government has fixed the wheat support price at Rs1,300 per 40kg, which translates to $320 per ton in the international market.
Published in The Express Tribune, January 12th, 2017.