KARACHI: The Chairman of the Cereal Association of Pakistan, Muzmal Chappell, has appealed to Prime Minister Shehbaz Sharif to grant permission for the export of surplus wheat, citing a current excess of 3.9 million tonnes in the country.
In a bid to alleviate the pressure on domestic prices and support farmers, Chappell emphasized the need for immediate government authorization to export wheat, flour, and wheat products. Pakistan boasts the capacity to export 250,000 tons of flour, 250,000 tons of wheat products, and 500,000 tons of raw wheat, potentially tapping into international markets with its surplus production.
Highlighting the benefits, Chappell noted that exporting surplus wheat would not only fetch better prices for farmers but also contribute significantly to foreign exchange earnings for the country. Currently, Pakistan’s wheat reserves stand at over 36 million tons, including carry-forward stocks, surpassing the required 32 million tons.
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Expressing concerns over potential stock losses if surplus reserves are not exported in a timely manner, Chappell stressed the importance of leveraging the current harvest season to initiate exports promptly. He emphasized that exporting excess wheat could also bolster Pakistan’s current account balance, providing a financial boost amid economic challenges. He has appealed to Prime Minister Shehbaz Sharif through a letter, requesting permission to export wheat, flour, and wheat products
Negotiations are ongoing with the government to secure approval for the export initiative, underscoring efforts to address market dynamics and enhance agricultural trade opportunities for Pakistan.
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