- Web Desk
- 52 Minutes ago
Wheat import ban from India, Israel
- Web Desk
- Nov 29, 2023
ISLAMABAD: In a strategic move, Pakistan has enforced a ban on the import of wheat from India and Israel, signaling a shift in its global trading dynamics.
Additionally, wheat procurement has been restricted from nations facing international sanctions, including Cuba, Iran, North Korea, Syria, as well as Ukrainian territories controlled by Russia, including Crimea.
Global trading entities have been issued a stringent condition not to supply wheat sourced from India and Israel. This diplomatic maneuver of wheat ban, as outlined in an official document, underscores Pakistan’s careful considerations in shaping its international wheat trade partnerships.
The Trading Corporation of Pakistan (TCP) has recently initiated a significant move by issuing an international tender to procure and import 110,000 metric tons of wheat, as reported by European traders.
The tender, with a deadline for price offers set on December 27, comes with the stipulation that the wheat must originate from the latest crop.
Two ships, scheduled to dock at Gwadar or the Karachi port by February 12, will transport the anticipated wheat shipments. The shipment is requested for 2024, with consignments planned during two distinct periods between January 10-15 and January 17-22. It is imperative that the wheat arrives in Pakistan by February 12, 2024, in adherence to the established timelines.
Adding a layer of flexibility to the procurement process, the TCP retains the option to acquire 10 percent more or less than the specified tender volume. Observers in the trading arena suggest that Pakistan, grappling with financial challenges, is compelled to meet a significant import requirement to counter the surge in flour prices within the domestic market.