Karachi Port Receives First Shipment Of Russian Wheat

KARACHI, Pakistan - The first wheat cargo ship from Russia docked at Karachi port carrying 1,000 tons of wheat, according to Pakistani media reports.

It is expected that the price of flour would drop sharply, which is excellent news for the people.
According to multiple media reports, this is the first wheat shipment from Russia that was requested by the private sector.
Prior to the wheat shipment, the Pakistani government had received delivery of Russian 100,000 metric tons of crude oil in June 2023, the oil and wheat shipments demonstrate Pakistan's efforts to balance relations with Moscow and the West.
Moscow wheat was purchased at $279.50 per tonne, as per SAMMA news.
Pakistan saw a significant increase in wheat imports of US$1.05 billion in the July-April 2022-23 fiscal year.
According to the Pakistan Bureau of Statistics (PBS), this figure represents a significant increase compared to US$795 million worth of wheat imports in the same period of the previous fiscal year.
The increase in wheat prices was due to the ongoing war between Russia and Ukraine, which started in February 2022.
The price of wheat in the local market is likely to drop with the arrival of the deliveries, the sources said.
The wheat imported from Russia would be sold to flour mills for Rs92 per kg, according to the SAMMA news report.
After the arrival of the Russian wheat cargo, it is anticipated that the price of wheat flour would drop dramatically, thus relieving the Karachiites.
The people exhausted by more than a normal inflation will breathe a sigh of relief.

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