Friday, February 20, 2009
SINGAPORE: Pakistan will likely produce more wheat from its bumper crop than a government target of 25 million tonnes this year, paving the way for more exports from South Asia which could further dent world prices.
“There is no fear of any shortfall. It should meet our requirement, we should have some surplus,” Muhammad Saeed, chairman of the Trading Corp of Pakistan, told Reuters.
“We are looking into exports. We will do value addition and send wheat flour to Afghanistan. Depending on the market conditions, we may export to the Middle East.”
Pakistan joins India in producing a record crop which may allow wheat exports from South Asia, adding pressure to the already depressed global wheat prices.
India, the world’s second-biggest wheat producer, is expected to export the grain for the first time in six years after a near record harvest of 77.8 million tonnes that is likely to boost stocks.
Wheat prices have dropped 62 per cent to $5.12-ΕΎ per bushel since peaking on the global benchmark Chicago Board of Trade in February 2008, pressured by rising global supplies amid an economic slump.
For more on this article, please click on the following link: Pakistan may export flour on surplus wheat: The News
Friday, February 20, 2009
Pakistan may export flour on surplus wheat: The News
Sunday, January 25, 2009
Pakistan set to achieve 25 mln-tonne wheat target: Dawn
An increase in the area planted with wheat, an early end of the cotton crop that made way for wheat sowing and a higher procurement price the government pays farmers were all reasons for the higher output, they said.
‘The target of 25 million tonnes is achievable,’ said Ibrahim Mughal, chairman of the Agri-Forum farmers' association.
‘But in case of unfavourable weather, output is expected to be between 24 million and 25 million tonnes.’
Pakistan produced 21.8 million tonnes of wheat in the 2007/08 crop after the area under cultivation fell 2.6 per cent against a target area of 21 million acres (8.49 million hectares), and the government had to import wheat to cover the shortfall and for reserves.
Pakistan consumes about 22 million tonnes of wheat a year while nearly one million tonnes finds its way to neighbouring Afghanistan and Iran, traders say.
According to the industry officials wheat has been sown over an area of about 22 million acres, largely because of a 52 per cent increase in the procurement price to 950 rupees ($12.05) that encouraged farmers to grow more.
‘The response of farmers has been very good to the increase in procurement price and that is the reason for the increase in the area planted with wheat,’ said Zahoor Agha, a top official of the private All Pakistan Flour Mills Association.
‘God willing, we will achieve the target of 25 million tonnes,’ he said.
Domestic wheat prices had become more competitive compared with the cost of imported wheat because of lower prices in the international market.
For more on this article, please click on the following link: Pakistan set to achieve 25 mln-tonne wheat target: Dawn
Wednesday, December 3, 2008
Gwadar to handle cement exports in future: The News
Wednesday, December 03, 2008
By our correspondent
ISLAMABAD: The government has decided to manage all cement export activities from Gawadar Port in future while some part of import of wheat and fertilizer would also be shifted on this port to enhance business activities in Balochistan besides creating job opportunities. Federal Minister for Industries and Production Mian Manzoor Ahmad Wattoo said this in a meeting with the Chief Minister Balochistan, Nawab Mohammad Aslam Khan Raeesani here on Tuesday.
They also discussed matters on various development plans initiated by Federal government especially Ministry of Industries and production in the province, says a news statement issued here. During the meeting, Industrial Minister said that Federal Government has prepared various development plans for the development of this province including supply of clean drinking water, development of precious stone industry, establishing of Export Processing Zone, facility of Utility stores and scheme of tax holidays for Gawadar Port.
For more on this article, please click on the following link: Gwadar to handle cement exports in future: The News
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