Tridge summary
The federal government has reached a deal with the IMF to eliminate the minimum support price (MSP) for wheat for the 2025-26 season. The government is also contemplating shutting down the state-owned wheat distribution company, PASSCO, due to irregularities. This decision, which aligns with one of the IMF's bailout conditions, could significantly affect the wheat market. Additionally, the government is seeking suggestions on wheat food security from provinces and has set new prices for wheat flour in Karachi.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The federal government has reached an agreement with the International Monetary Fund (IMF) to end the minimum support price (MSP) system for wheat, ARY News reported on Wednesday. After the agreement, the minimum support price (MSP) of wheat would not be announced for 2025-26, sources said. Ministry of National Food Security and Research directed the provinces to submit their wheat food security suggestions based on their population. The ministry is also pondering closing down the state-owned company Pakistan Agricultural Storage & Services Corporation Ltd (PASSCO) due to the irregularities in wheat distribution and finance. The decision may have a significant impact on the wheat rates and market, as PASSCO has a storage capacity of 1.2 million metric tonne and plays a crucial role in supplying wheat to the provinces based on their requirements. Notably, the government previously used to procure wheat from farmers after announcing a minimum support price and then supply it to the ...
Source: UkrAgroConsult
Would you like more in-depth insights?
Gain access to detailed market analysis tailored to your business needs.
Related market data
What to read next
Read more relevant content
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.