The arrival of the first private sector import of wheat from Russia to the Karachi Port happened on Sunday. Despite this year’s great crop, there is still a shortage of three million tons, thus the government has authorized the import of the crop through both public and private channels to make up the difference. This shipment marks the beginning of the private sector’s importation of the crop from Russia under this arrangement.
The Russian wheat will bring the prices down
The private sector negotiated a price of $279 per metric ton for the the crop, which should bring the ex-mill price down to around Rs. 92 per kg.
In March, a Russian ship arrived at Gwadar Port with 50,000 metric tons of wheat. In light of the nationwide wheat shortage and flour problem, the administration has decided to import the crop from Russia.
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