Highest wheat exports in March & April

The country has seen highest ever wheat export of more than 540,000 tonnes in the month of March and April. With these numbers, the target of wheat export of 1.4 million tonnes by sea route will be achieved ahead of June.

Pakistan exported 241,522 tonnes in March alone, fetching $47m while in April wheat export exceeded 300,000 tonnes which is highest-ever in a single month in country’s history — Chairman FPCCI Standing Committee on Export and member Wheat Traders Association of Pakistan, Mehmood Moulvi claimed.

In December 2017, the government allowed exports of 2m tonnes of wheat and wheat products before June 30 to clear carryover stocks as new crop finds way into the market.

“We will achieve the wheat export target of 1.4m tonnes by May end, which will be a new record in just few months instead of in one full year,” he said confidently. The grain is being exported to Bangladesh, Indonesia, Vietnam, Dubai, Muscat, Oman, etc. at a price of $185-200 per tonne.

He said wheat export target via land route is 600,000 tonnes, adding that he could not comment on its export.

Attractive subsidy and prices in world markets have given boost to the exports while devaluation of the rupee against the dollar provided extra support to foreign shipments, he said.