Pakistan to Maintain Wheat Reserves of Up to 6 Million Tonnes

The Pakistani federal government intends to keep strategic wheat reserves of up to 6 million tonnes to guarantee a steady supply and avoid shortages nationwide, declared Food Security Minister Rana Tanveer Hussain on Monday. Speaking at a press conference in Islamabad, Hussain confirmed the nation possesses ample wheat stocks to satisfy domestic demand this year. He also affirmed the government's readiness to tackle possible market disturbances and guarantee the availability of this basic food item.

The minister's declaration followed Prime Minister Shehbaz Sharif's setting of the indicative wheat price for 2027 at Rs. 4,500 per 40kg, a Rs. 1,000 increase from the previous year. Hussain stated that the government had reached the indicative price after discussions with all provincial governments. He added that the decision aimed to stabilize the domestic wheat market, safeguard farmers' interests, and generate opportunities for wheat exports in the following year.

Hussain reported that more than 1.3 million tonnes of wheat had been distributed to provincial governments from the Pakistan Agricultural Storage and Services Corporation (Passco) stocks. He also mentioned that the government could arrange imports of up to 550,000 tonnes of wheat, contingent on provincial needs and market demand.

Concerned about recent shifts in wheat prices, Hussain labeled the current rise as artificial and blamed specific market participants for price manipulation. He expressed certainty that prices would stabilize within a few days, citing the availability of sufficient wheat stocks across the country.

Besides addressing wheat price concerns, the government is implementing extensive agricultural reforms. Hussain outlined plans to enhance agricultural productivity, refine market regulation, and ensure the availability of essential food commodities. Policies covering seeds, olives, and biotechnology have been drafted to modernize Pakistan's agricultural sector, boost crop productivity, and promote innovation.

The minister emphasized the importance of access to quality seeds, modern agricultural technologies, and robust regulatory frameworks in increasing productivity and lowering farmers' production costs.