The government raises the minimum support price for wheat

The government has decided to raise the minimum support price for wheat from Rs to establish wheat self-sufficiency. 1,800/40 kg last year to Rs. 1,950/40 kg this year. The Food Ministry expects to encourage farmers to grow enough wheat to reach the national output target of 28.90 million metric tonnes.

Because of much higher worldwide DAP fertiliser pricing and shipping expenses, the domestic price (Rs. 7,300/bag) has also risen dramatically. However, because the government gives an Rs. 126 billion annual subsidies for natural gas, the price of urea (Rs. 1,850/bag) remains consistent and much cheaper than the international market (Rs. 5,400/bag).

Govt Increases Minimum Support Price for Wheat

The government collaborates with fertilizer businesses to ensure enough supply of these critical fertilizers during the Rabi season. Furthermore, the government has allocated about Rs. 16 billion in subsidies for fertiliser, seed, pesticides, and agricultural loan markups. These timely actions have contributed to the record output of a variety of commodities.

The ministry praised the farmers, saying they had produced record crops this year. Pakistan has produced the most wheat (27.5 million mt), rice (8.4 million mt), maize (8.5 million mt), mung beans (0.275 million mt), onion (2.3 million mt), and potato (5.7 million mt), with sugarcane coming in second (81 million mt).

Sugarcane production is expected to be 87.67 million tonnes in 2021-22, an increase of 8% over last year. Rice production is expected to be 8.84 million tonnes, a 5% increase over last year. Maize production is expected to be 9.0 million tonnes, 8.5 percent more than last year. In contrast, cotton production is expected to be 6.2 million balesĀ on November 1, 2021, compared to 3.4 million bales (82 percent higher) on the same date last year.

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