Pakistan and other big importers of Wheat are expecting to buy more wheat, according to the World Bank.
The most recent “Food Security Update” from the bank said that the government’s decision to permit duty-free imports by the private sector is a contributing factor to the rise in Pakistan’s imports.
With a 0.7 MMT increase to 787.4 MMT, worldwide wheat production for 2023–24. It is the second largest on record, but it’s still not the biggest. A decrease in crop to Tunisia compensate by higher production in the European Union (EU), Moldova, and Pakistan, leading to the increase.
Particularly, according to official statistics, Pakistan’s production has been revised up. While the European Union’s production has increased by 0.5 MMT. Whereas, according to the most recent official statistics, both production and cultivated area in Tunisia declined by 0.4 MMT.
While Saudi Arabia and Yemen projects have decreases in wheat imports. The major importers such as Algeria, Pakistan, the EU, and Indonesia will probably see increases. Impressive durum imports from Mexico are expecting to propel Algerian imports to a new high of 9.0 MMT.
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