December 6, 2022

Pakistan to import 450,000 tonnes of Russian wheat

Pakistan's Finance Ministry said it has approved the import of 450,000 tonnes of Russian wheat ahead of the upcoming crop season, which is expected to be delayed due to floods, Hellenic Shipping News reported.

According to a statement from the ministry, the Russian wheat will be bought on a government-to-government basis between the months of February and March.

The offer from the Russian state firm Prodintorg at US$372 per tonne was approved at a meeting of the ministry's Economic Coordination Committee (ECC) held by the country's Finance Minister Ishaq Dar.

The ECC also accepted the lowest bid from M/s Cereal Crop Trading LLC at a price of US$372 per tonne for the supply of 130,000 tonnes at Karachi port for the shipment period from December 16, 2022 to February 8, 2023.

In July and August, Pakistan was devastated by floods that resulted in losses of more than US$30 billion and severe damage to four million acres of stored and standing crops. For many weeks, fields in large parts of southern Pakistan were waterlogged.

-      Hellenic Shipping News