Key states, including Pakistan: Wheat imports expected to rise: World Bank

ISLAMABAD: Wheat imports are expected to rise for key importing countries including Pakistan, says the World Bank.

The bank in its latest, “Food Security Update”, stated that Pakistan’s imports have accelerated, partly due to the government’s decision to allow duty-free imports through the private sector.

While global wheat production for 2023-24 is slightly up by 0.7 MMT to 787.4 MMT, it remains the second highest on record. The increase is primarily driven by higher production in the European Union (EU), Moldova, and Pakistan, offsetting a smaller crop in Tunisia. Notably, EU production sees a boost of 0.5 MMT, while Pakistan’s production is revised higher based on government statistics. Conversely, Tunisia’s production is lowered by 0.4 MMT due to updated government statistics indicating reduced yield and harvested area. Wheat imports are expected to rise for key importing countries including Algeria, Pakistan, the EU, and Indonesia, outweighing reductions in Saudi Arabia and Yemen. Algeria’s imports are forecasted to reach a record 9.0 MMT, largely due to robust Durum imports from Mexico.

Pakistan’s imports have accelerated, partly due to the government’s decision to allow duty-free imports through the private sector. EU imports are up to 13.5 million due to strong imports from Ukraine, while Indonesia’s imports are forecasted to reach a record 12.0 MMT.

The nature of food security challenges is specific to countries in the region. In the Philippines, the US Department of Agriculture forecasts a 14 percent increase in rice imports for 2024, reaching 4.1 million tonnes, because of an estimated decrease in local production, of 12.3 million tons. In 2023, 82 percent of the Philippines’ rice imports came from Vietnam, with the rest from India, Myanmar, Pakistan, and Thailand.

Copyright Business Recorder, 2024