Prices seen falling after arrival of imported wheat

Stakeholders expect a Rs5-7 per kg decline in wheat prices after a private sector consortium finalised a deal for the import of 700,000 tonnes of Russian and Romanian wheat which would arrive in 12 cargo ships. The first ship carrying 55,000 tonnes of Russian wheat would arrive at Karachi port on Sept 15. The second ship with 60,000 tonnes is expected to arrive in the third week of this month. Cereal Association of Pakistan (CAP) Chairman Muzzamil Chappal told Dawn that the wheat is being imported from Russia and Romania in the price range of $282-295 per tonne (C&F) Karachi. He said the landed price of imported wheat is estimated at Rs100 per kg and it may cost Rs105-106 at the market level. Imported wheat arrival would help in bringing down flour rates. The private sector is importing wheat without any government subsidy.