Islamabad – Pakistan, Asia’s third-largest wheat producer, has allowed export of the grain on government-to-government basis to other countries, according to an official announcement.
Pakistan had in January approved export of 1.2 million tons of wheat from the surplus stocks through private exporters. Of the total, 800,000 tons were to be exported from the central Pubjab province and 400,000 tons from Sindh. The government had also announced transport rebate of $45 and $55 per ton for Sindh and Punjab exporters, respectively.
The meeting of the Economic Coordination Committee which met in Islamabad on April 23, decided to also allow export on government-to-government basis on same terms and conditions.
Pakistan harvested 25.3 million tons of wheat in the year 2013-14 financial year against the average annual consumption of 22 million tons. The South Asian country is targeting 26 million tons of wheat output this year.
World wheat output reached a record 724.76 million tons in 2014-2015, which may help increase the global stockpile to 432 million tons, the highest since the mid 1980s, according to USDA March 10 data.