Pakistan keeps state-fixed wheat price unchanged

Pakistan's Cabinet has decided to keep the state-fixed price for wheat paid to farmers unchanged at PKR950 (US$11.42) per 40 kilograms in the new crop year, a government official said.

"The guaranteed minimum price of wheat should be kept unchanged as cost of production of wheat is not likely to increase this year," the official, who didn't want be named, told reporters Monday (September 28).

Pakistan's state-run agencies are likely to target purchases of between 6.5 million and 7.5 million tonnes in the year that begins Oct.1, he added.

US$1 = PKR83.15 (Sep 29)