Pakistan: Grain and Feed Update

The Government of Pakistan procured 6.3 million metric tons (MMT) of wheat from the recent harvest; the highest procurement level in recent years. Government-owned stocks are now at a record 10.8 MMT. Pakistan is largely disengaged from the international wheat trade as high domestic procurement prices lift market prices well above international levels and a 60 percent tariff shields the industry from imports. The pace of rice exports is somewhat slower than expected as prices have been above those of competing origins for long grain rice. Exportable supplies are reportedly good and it appears that traders may be willing to part with their stocks now that Ramadan has concluded. The rice export forecast for MY 2016/17 is unchanged at four MMT. PSD estimates for corn remains unchanged from previous reporting.

Pakistan: Grain and Feed Update