Pakistan: Government increases wheat support price

01/11/2014,

The Government of Pakistan decided to increase the wheat support price, effective 1 November, from PKR 1,200 (USD 11.70) to PKR 1 300 (USD 12.78) per 40 kg, reflecting higher cost of production ( mainly fertilizers, diesel and electricity) but also taking into consideration additional factors such as import/export parity price, international wheat prices and domestic prices. It also imposed a 20 percent import duty to discourage wheat imports. These measures are expected to benefit farmers. The wheat support price has increased 180 percent in the last five years. Planting of the 2015, mostly irrigated, “rabi” (winter) wheat crop is currently underway and the official target for the 2015 wheat crop is set at 26 million tonnes, 3 percent up from the 2014 bumper level. The projected increase is due to anticipated higher yields, as a result of increased use of improved seed varieties.

Country: Pakistan