Pakistan Set for One Million Tonnes Wheat Import Amid Supply-Demand Imbalance

Pakistan's federal government is set to import one million tonnes of wheat due to insufficient strategic reserves. This decision comes just three months after harvest, despite previous claims that domestic production would meet annual requirements.

The country has imported wheat in several years over the past decade, but this timing is unusual. Wheat prices have surged from Rs3,300 to Rs4,700 per 40 kg since harvest, indicating a significant supply-demand imbalance.

Farmers are demanding better prices, and experts argue that the government's wheat policy has failed to balance their interests with those of consumers. The proposed import has revived fears of a repeat of FY24, when imports triggered a price collapse.

Proponents suggest three reforms: allowing unrestricted wheat exports during harvest time, building strategic reserves of at least 4m tonnes, and recognising the legitimate role of private stockists in the market.