Pakistan is likely to import wheat from Russia to meet domestic demand inthe country. The 300,000 tonnes of wheat to be purchased from Russia willincur an additional cost of Rs. 600 million.
According to sources from the Trading Corporation of Pakistan (TCP), thecharges from port to station will be levied on imported wheat. The cost ofwheat will be Rs. 892 per 10 kg, which is Rs. 20 higher than wheat in thedomestic market, at Rs. 872, as per the Pakistan Bureau of Statistics (PBS).
Sources said the government has not yet been able to start importing wheatfrom Russia.
According to sources from the Ministry of National Food Security andResearch (NFSR), wheat could be imported from Russia by January 15, 2023.
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Earlier, the Economic Coordination Committee (ECC) of the cabinet approvedthe summary for the procurement of wheat from Russia on a G2G basis.
The summary contained the offer of M/s. Prodintorg, a state-ownedenterprise of the Russian Federation, for the supply of 300,000 MT ofspecified milling wheat at a rate of $372 per MT for the shipment periodfrom November 1st, 2022, to January 15th, 2023. The committee, afterdeliberation, approved the summary.
