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Wheat Imports to Rise in Pakistan, Says World Bank
The World Bank has predicted an increase in wheat imports for Pakistan and other key importing countries, including Algeria, the European Union, and Indonesia.
According to the Bank’s latest “Food Security Update”, Pakistan’s imports have accelerated due to the government’s decision to allow duty-free imports through the private sector.
Global wheat production for 2023-24 is expected to reach 787.4 million metric tons, a 0.7 million metric ton increase from the previous year.
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While production is up in the European Union, Moldova, and Pakistan, it has decreased in Tunisia.
Pakistan’s imports are expected to rise, partly due to the government’s decision to allow duty-free imports.
The country’s consumer price inflation for food items was 17.2% in March, the highest in South Asia.
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Highlights:
- Global wheat production for 2023-24 is expected to reach 787.4 million metric tons
- Pakistan’s imports are expected to rise due to duty-free imports through the private sector
- Algeria’s imports are forecasted to reach a record 9.0 million metric tons
- EU imports are up to 13.5 million due to strong imports from Ukraine
- Indonesia’s imports are forecasted to reach a record 12.0 million metric tons
