Wheat Procurement: Wheat prices may fall after government buying

Growers have been asked to bring their produce at procurement centres as early as possible.


APP May 23, 2013
Passco has procured more than one million tons of wheat in its procurement drive for the current season. PHOTO: FILE

LAHORE:


Pakistan Agriculture Storage and Services Corporation (Passco) has warned farmers that wheat prices may fall after the government achieves its procurement target, and growers should bring their produce at procurement centres as early as possible to get the officially announced support price.


Managing Director Major General Tauqeer Ahmed cautioned in a statement that those growers who will hold wheat with them to achieve high prices in future may an have equal risk of bearing losses. He said that Passco had procured more than one million tons of wheat in its procurement drive for the current season.

He gave instructions to the staff accordingly on different aspects of procurement. The distribution of bardanas in a rational way was also in progress, Ahmed added, and Passco field staff had been instructed to ensure better arrangements for storage. 

Published in The Express Tribune, May 24th, 2013.

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