Country's wheat exports posted healthy growth and reached $156 million during the first ten months of this fiscal year (FY18) owing to government's freight subsidy scheme. According to Pakistan Bureau of Statistics (PBS), Pakistan has earned some $156 million through wheat exports during the first 10 months of this fiscal year compared to $0.967 million in the same period of last fiscal year (FY17), showing an increase of $155 million. In term of quantity, some 794,172 metric tons wheat and wheat products were exported in July-April of FY18 up from 3,676 metric tons.
Month-on-Month basis, wheat export statistics are also very encouraging as wheat export has witnessed a healthy growth of 100 percent in April 2018.
Exporters said that exports of wheat and wheat products are posting hefty growth during this fiscal year supported by the federal government's subsidy.
"We are exporting wheat with the government subsidy as international prices are lower than domestic market. The basic aim is to dispose off excess commodity stocks and earned millions of dollars foreign exchange" exporters said.
Pakistani wheat quality is best and as per international standard as it has 11.0 per cent to 11.5 per cent protein content and perfect for Sri Lanka, Bangladesh, Gulf, the Far East and Myanmar markets, they informed.
It may be mentioned here that recently the Economic Coordination Committee (ECC) of the Cabinet has extended the export period of 0.5 million tons of wheat/wheat products with a freight subsidy of $ 150 metric tons through Pakistan Agricultural Storage and Services Corporation Ltd (PASSCO) by September 30, 2018.
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