Ukraine covered 60% of overall Pakistani wheat import potential - updated

Source

APK-Inform

5925

Pakistan allowed the private companies to import 2.5 mln tonnes of wheat this season to stabilized the inner prices and accumulate stocks. The country has purchased significant volumes of wheat in the first half of the season. Ukraine is the main supplier. APK-Inform says Ukraine exported 1.2 mln tonnes of wheat to Pakistan in July-November of 2020/21 MY.

USDA forecasted Pakistan to import about 2 mln tonnes of wheat this season. Therefore, Ukraine has already covered about 60% of the overall import potential. USDA set Pakistani wheat crop at 25.7 mln tonnes in 2020/21 MY, up 6% compared to the preceding season. Inner consumption may reach 24.7 mln tonnes (+2%). Thus, mainly the need to replenish carry-over stocks of wheat forces the country to import the grain. The stocks declined by 50% to 1.3 mln tonnes in 2019/20 MY.

USDA raised their forecast of wheat import to Pakistan to 2.5 mln tonnes in December amid sizable purchases of Russian wheat. Russia supplied 0.92 mln tonnes of wheat to Pakistan in July-November. Therefore, common export of Ukrainian and Russian wheat to Pakistan exceeded 2.1 mln tonnes so far in 2020/21 MY (85% of overall Pakistani import potential). Higher import expectation resulted in upward revision of carry-over stocks in Pakistan to 3.4 mln tonnes in 2020/21 MY.

APK-Inform forecasts export of Ukrainian wheat at 17.5 mln tonnes in 2020/21 MY. The country has already shipped nearly 12 mln tonnes (or 68%) of the grain in July-November. Pakistan is the third largest importer of Ukrainian wheat so far in 2020/21 MY with the share of 10%.

Moreover, Pakistan is the fourth largest importer of Russian wheat so far in 2020/21 MY with the share of 4%. Russia will export 40 mln tonnes of wheat in 2020/21 MY.

 

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