HAMBURG: Importers in Pakistan bought at least 300,000 tonnes of wheat expected to be sourced from the Black Sea region in deals made in June and July, European traders said on Wednesday.

Pakistan's government permitted private sector wheat imports in June to cool domestic wheat and flour prices.

Traders reported five consignments, each of about 60,000 to 65,000 tonnes.

One shipment was purchased in late June at $219.50 a tonne c&f for August/September shipment, traders said.

Four other shipments were purchased in July, with the latest deal done on July 20, they added.

The July purchases were priced at around $231 a tonne c&f for August shipment, $238 a tonne for August shipment, $239 a tonne c&f for July 25 to Aug. 15 shipment and $234 a tonne for August shipment.

The sales were made by four international trading companies all for shipment to Karachi/Port Qasim.

Traders said more purchases were possible by Pakistani importers if domestic prices do not cool.

Copyright Business Recorder, 2020