Wheat policy fixes price at Rs4,500

Pakistan has set the wheat price at Rs4,500 per maund under a new National Wheat Policy, the first such framework in nearly four decades, The Express Tribune reported. Federal Minister for National Food Security and Research Rana Tanveer Hussain said provincial governments were consulted and described the decision as one intended to protect farmers while supporting stability in the domestic market. The policy also provides for strategic reserves of up to six million metric tonnes this year.

The minister said provincial governments had received more than 1.3 million metric tonnes from Pakistan Agricultural Storage and Services Corporation stocks, with imports of up to 550,000 metric tonnes possible if required. He said imported wheat would cost about Rs4,500 per maund and that the government would favour domestic procurement. Hussain attributed recent price rises to artificial market activity, said supplies were sufficient, and stated that the government was monitoring the market.