Ukraine is in the process of lifting export restrictions of wheat. Russia and Kazakhstan are expected to do the same in the next few months. There is expected to be a record production of about 650 million tons of wheat this year.
Looks like the worst is over for now and the price of wheat has already peaked.
Re: Wheat Prices.
Benefit of rice export
THIS is apropos of Ashfak Bokhari’s article, ‘A passion for exports in bad times’ (April 28).
As apprehended by the writer, it is neither the greed of exporters nor the shady deals of the bureaucracy that allow unhindered exports of rice. It is rather a passion to convert bad times into a good omen.
The fact is that rice is not a staple/primary food of Pakistanis and, hence, we cannot follow, like a herd, Vietnam, Thailand or India (West Bengal) whose primary food item is rice, whereas ours is wheat.
We can take the rare advantage of the situation by exporting rice at more than $1,200 pmt and importing equivalent quantity of wheat at less than $600 pmt.
It is worth noting that cheap rice is more prone to porous border trade than is wheat, and can jeopardise the so-called prudent decision of curbing rice export.
Besides, contrary to rice, wheat is a nutrient-rich foodgrain. So by taking a discreet decision, we can become healthy and wealthy to the extent of more than a billion dollars, besides reaching the non-conventional market for future benefits.
SIDDIK S. JAANGDA
Karachi