The Federal government is all set to raise the Wheat Support price to Rs. 1950 for 40 kilograms.
At a press conference, National Food Security and Research Minister Fakhar Imam and Information Minister Fawad Chaudhry announced that in order to achieve self-sufficiency in wheat, the government has decided to increase the minimum price of the wheat to Rs. 1950/40kg compared to 1800 rupees last year.
“We hope this will encourage farmers to grow enough wheat to reach the national production target of 28.90 million tonnes,” he said, adding, “We also hope that the availability of irrigation water and weather conditions in the spring season will be favorable to achieve … this goal. “
Due to the high international DAP fertilizer price and transportation costs, the domestic price of Rs 7,300 per bag has increased significantly, Imam said, but the urea price at Rs 1,850 per bag is stable and much lower than the international rupee price. … 5,400 per bag because the government allocates 126 billion rupees a year for natural gas.
The government will work closely with fertilizer producers to ensure that sufficient basic fertilizers are available this spring. In addition, the government has provided more than Rs 16 billion in fertilizers, seeds, pesticides and subsidies for agricultural loans. These timely initiatives have helped to achieve record production for many products.
The food minister said farmers have reaped a record harvest this year. Pakistan produced the largest amount of wheat on record: 27.5 million tonnes, 8.4 million tonnes of rice, 8.5 million tonnes of corn, 0.275 million tonnes of mung bean, 2.3 million tonnes of onions and 5.7 million tonnes of potatoes.
He added that the sugarcane crop also reached the second largest production level, of 81 million tonnes, and said production was estimated at 87.67 million tonnes in fiscal year 2022, an 8% increase over fiscal 2021.
Previously, Government had sought price recommendations from the provinces where Punjab recommended Rs 1,950/40kg, Khyber Pakhtunkhwa (KH) Rs 2,000/40kg, Balochistan’s response was Rs 2,000/40kg; However, due to upward price trends and higher production costs, the province later recommended Rs 2,400 for 40 kg. This lead to average price recommendation of 2080/40kg.
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