The World Bank forecasts increased wheat imports for major importing nations, including Pakistan.
In its recent “Food Security Update,” the Bank mentioned that Pakistan’s imports have sped up, partially attributed to the government’s move to permit duty-free imports via the private sector.
Although global wheat production for 2023-24 has risen by 0.7 MMT to reach 787.4 MMT, it still stands as the second-highest on record. This increase is mainly driven by elevated production in the European Union (EU), Moldova, and Pakistan, countering a smaller crop in Tunisia.
Significantly, EU production receives a boost of 0.5 MMT, with Pakistan’s production also revised higher based on government data. Conversely, Tunisia’s production is reduced by 0.4 MMT due to updated government statistics indicating decreased yield and harvested area.
Wheat imports are anticipated to increase for key importing nations, including Algeria, Pakistan, the EU, and Indonesia, surpassing reductions in Saudi Arabia and Yemen. Algeria’s imports are projected to reach a record 9.0 MMT, primarily due to robust Durum imports from Mexico.
Pakistan’s imports have accelerated, partly due to the government’s decision to permit duty-free imports through the private sector. EU imports have risen to 13.5 million due to robust imports from Ukraine, while Indonesia’s imports are forecasted to hit a record 12.0 MMT.
