It has been decided to increase the minimum wheat support price from Rs1,400 to Rs1,600 per kg – an increase of Rs200 or 14.3%, according the officials, who attended the meeting. But the price of Rs1,600 will be only higher by Rs13 or 0.8% compared to the estimated production cost of Rs1,587 per 40 kgs by the food security ministry. At this price and with an average 28 maunds per-acre output, the farmer will get additional benefit of Rs5,600 per acre. The proposal of giving DAP subsidy through scratch card and through the food security ministry were also discussed. Against the current support price of Rs1,400, the wheat price in the domestic market, as reported by the Pakistan Bureau of Statistics (PBS), stood at Rs2,256.6 per 40 kgs in the first week of October, according to official documents.

Source: The Express Tribune October 22, 2020 03:33 UTC