Pakistan approves the import of 3 million tonnes of wheat in 2021/22 to build strategic reserves

28/06/2021,

On 17 June 2021, the Economic Coordination Committee (ECC) approved the import of 3 million tonnes of wheat during the 2021/22 marketing year (July/June). The measure, which follows the lifting of import duties for wheat in June 2020 (FPMA Food Policies), aims to build up the national strategic reserves. Together with an above-average wheat output forecast in 2021, set at 26.2 million tonnes, the country expects to guarantee an adequate supply to contain the inflationary pressure caused by the increase in wheat prices since mid-2020. This has been due to a combination of high production costs and a lingering tight domestic supply situation, after a lower-than-expected 2020 harvest, which followed below-average outputs in 2018 and 2019, and strong exports in 2019.

Country: Pakistan