June 01, 2014
Sindh Food Department (SFD) procured 30 percent more wheat compared to last year, ahead of the cutout date which is June 15. Hashim Sharja Wala, leading wheat trader, said here on Saturday.
“Sindh Food Department has so far procured more than 1.25 million tons wheat which is higher than 2013’s wheat procurement that was around one million ton. The short procurement last year was due to corruption in department which has been successfully eliminated and now, the department is all set to achieve its target of 1.3 million tons by coming week,” adding that already four million tones buffer stock of wheat is available. Agriculture News
He commented that all the procurement centers had strived hard to accomplish the said target despite facing difficulties created by hoarders in procurement. “Food department has assured to store procured wheat in a safe and secure condition and this year farmers received their full payment by millers and no complaint about mixing sand in wheat bags has been reported,” he said.
Talking about export, he said wheat trade has descended as no export of Pakistan’s wheat has been reported so far due to high prices in international market, ie $390-$400 per metric ton. International buyers are moving towards other countries as they are offering them low price as compare to Pakistan. Agriculture News
Moreover, he said Karachi has ample stock of wheat and no shortage of wheat would be faced in near future as government ensure to procure wheat in order to stable the market price of wheat. The rate of flour in open market is Rs 33 per Kg which is fixed from 20 days. It is analysed that “the price of wheat will further decrease by 1 rupee per kg due to over flow of supply of wheat in the market and low demand by consumer. Courtesy Business Recorder