Sets minimu­m price at Rs1,350 per 40 kgISLAMABAD: The Economic Coordination Committee (ECC) on Wednesday increased the minimum support price of wheat by Rs50 to Rs1,350 per 40 kg in an attempt to safeguard the interest of growers and ensure food security for the consumers. However, in view of factors such as world wheat supply situation, cost of production, export-import parity prices and domestic producer prices, an appropriate support price for the next wheat crop was necessary. The cost of production in the financial year 2019-20 has increased to Rs1,349.57 per 40 kg in Punjab and Rs1,315.72 per 40 kg in Sindh, according to findings of the Agriculture Policy Institute. Apart from that, world wheat prices were hovering around Rs1,575 per 40 kg including duties and Rs1,440 without duties. Govt likely to raise wheat, sugarcane support pricesKeeping these in view, the ECC decided to enhance the minimum support price for the next wheat crop to Rs1,350 per 40 kg.

Source: The Express Tribune November 14, 2019 03:18 UTC