Wheat stock sufficient to cater to demand

According to API, harvest clocks in at 23.5 million tons for 2011-12.

ISLAMABAD: Pakistan has sufficient supply of wheat for the current year to cater demand as the country has been witnessing a bumper wheat crop for the last four years.

The country harvested an all-time record production of 25.21 million tons in 2010-11 while the crop was estimated to clock at 23.53 million tons for 2011-12.

According to a joint statement of Agriculture Policy Institute (API) and Ministry of National Food Security and Research issued here on Tuesday, the public sector wheat stocks, during the current year, were 9.3 million tons including current procurement of 5.79 million tons and carry-over stocks from previous year of 3.51 million tons.

It added that the country was quite comfortable in wheat supply for the current year and in view of sound supply position, the government allowed the private sector to export wheat and its products.

The private traders exported wheat and its products from the open market in recent months in the wake of the rising prices in the international market. Major portion of these exports comes from wheat flour, accruing value-added receipts to the economy.

It further said that wheat was not only the major staple food grain but also the food security crop of Pakistan. Being a very sensitive commodity, a small change in its price and availability had a considerable impact on consumers, especially the lower-income bracket. Hence, the government was concerned with its supply and demand status so as to ensure its availability.

Published in The Express Tribune, October 17^th, 2012.