April 22, 2011
 

Pakistan may double wheat export targets

Pakistan, Asia's third-largest wheat grower, may export as much as four million tonnes this year, double a target set by the government, as production exceeds local demand, a farmers' group said.

"If the weather remains good, our exports will flourish," said Ebrahim Mughal, chairman of Agri Forum Pakistan, a farmers' welfare group.

Exporters have shipped 1.1 million tonnes of wheat since the government lifted a three-year ban in December, he said.

Exports from Pakistan may cool a 67% rally in wheat prices in the past year, fuelling global food costs that the UN estimates advanced to a record in February. Wheat rallied after drought slashed harvests in Russia while floods eroded supplies from Canada and Australia.