Sufficient wheat stock available for domestic consumption

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ISLAMABAD: Sufficient wheat stock of over 9.3 million tonnes is available with the government reserves for domestic consumption as against the normal release of average 6.3 million tonnes per annum.

The marketing year of wheat starts from May and continue till April and up to beginning of current month (September), about 9.3 million tonnes of wheat stock was available in the government stores, said an official in the Agriculture Policy Institute (API).

He said country was in comfortable position in terms of wheat production and consumption due to bumper crops achieved during last 4 years. He informed during the year 2010-11 about 25.21 million tonnes wheat was produced while in 2011-12 the total output of the wheat was recorded at 24 million tonnes and in 2011-12 it was recorded at 23. 34 million tonnes.

Up to May 1, 2012 about 3.51 million tonnes of wheat carry forward stock was available in addition to about 23.34 million tonnes of current year's production, which mounted the local out put to over 27 million tonnes against the domestic consumption of 25 million tonnes, he added.

The current wheat marketing year is likely to ended with 2 million tonnes of wheat surplus which enables the country to export the commodity and fetch foreign exchange for the country.

Government was closely monitoring the local and international market behaviors for keeping smooth supply in the local market as well as exporting. In the international market, wheat production remain at lower side and low production was forecasted in many wheat producing countries including EU, USA, Australia, Canada and Russian states, he added.

He said world wheat production was recorded at 996 million tones during the year 201l-12 with total carryover stocks of 197 million tonnes but in 2012-13 the world output reduced and recorded at 662 million tonnes with carry forward stock of 180 million tonnes. He said from last year, the production and stocks, both were on decreasing trend but it was not lower than the normal production, which pushed up the prices of the commodity. Prices of wheat was also witnessed increasing trend in international market as it jumped from $316 per tonne during last year to $360 per tonne in current year which sparked the local exporters to export the commodity. app

Wheat stock position:

available

9.3 million tonnes

consumption per annum

6.3 million tonnes

End.