Wheat shipment from Bulgaria arrives in Karachi, expected to ease flour prices

KARACHI: A substantial shipment of wheat from Bulgaria, has arrived in Karachi, heralding potential relief for consumers by alleviating the demand-supply gap and reducing flour prices across the country.

The first vessel, laden with a cargo of 55,000 tons of wheat, arrived at the Karachi port, marking the initial wave of imports set to address the country’s wheat shortage. An additional two ships carrying wheat from Russia are anticipated to dock in Karachi within the next 24 hours.

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This influx of imported wheat is poised to bring about a significant reduction in the cost of flour throughout Pakistan. In the coming days, wheat prices in the open market are expected to witness a substantial decrease, potentially falling by an estimated Rs 100 to Rs 200 per bag.

According to reports, wheat importers in Punjab and Sindh have collectively procured 750,000 tons of wheat to date. Moreover, an additional 12 million tons of wheat are projected to be imported into Pakistan by February 2024.