date:Dec 13, 2012
Government of Pakistan raised the support price for the upcoming wheat crop to Rs1200 per 40 kilograms ($312/ton), up 14 per cent over the existing price of Rs1050 per 40kg ($292/ton).
The increase will not have any immediate effect on current flour prices, but rather will occur next August when the government starts releasing wheat stocks to flour millers at the new rate.
Governments decision will also increase the level of circular commodity debt, increasing pressure on an already fragile ec