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ECC allows export of 0.5 million tons of wheat

ISLAMABAD: The Economic Coordination Committee (ECC) on Tuesday gave the go-ahead to export of 0.5 million tons of wheat. Finance Minister Asad Umar presided over a meeting of the ECC in the federal capital today. The ECC discussed the proposal submitted by the Ministry of National Food Security & Research regarding export of surplus wheat/products as requested by the provincial governments of Punjab and Sindh and PASSCO. The committee granted an approval for export of 0.5 million tons of wheat by PASSCO and…

Pakistan gifts 360 tons wheat to Afghanistan as goodwill gesture

ISLAMABAD: Pakistan has gifted 360 tons wheat to Afghanistan as a gesture of goodwill. The wheat was handed over to Afghan authorities at Pakistan-Afghanistan border near Torkham on Saturday afternoon. It may be recalled that the former prime minister Shahid Khaqan Abbasi during his visit to Kabul in April this year had announced a gift of 40,000kg wheat for Afghanistan. Afghan authorities have welcomed this friendly gesture of Pakistan. Read More: Qureshi, Afghan president discuss bilateral ties, security Foreign…

Drought leaves US Plains wheat vulnerable to freeze damage

CHICAGO: A combination of delays to autumn planting and dry conditions in the southern U.S. Plains have left the hard red winter crop vulnerable to freeze damage, crop experts said, which could further tighten supplies of high-protein wheat. A cold spell is forecast for later in December. Any freeze in coming months could pose an outsize threat to supply, given there is already a shortage of high-protein wheat. U.S. data in January is expected to show farmers have planted even less winter wheat than a year ago, when U.S.…

ECC approves sugar export, wheat procurement, petroleum testing

ISLAMABAD: Economic Coordination Committee of the Cabinet (ECC) on Tuesday approved the further export of 0.2 million metric tons (MMT) of sugar without any subsidy. The committee chaired by Finance Minister Ishaq Dar considered the proposal by Ministry of Commerce, said the export of sugar would be made within sixty days after approval by State Bank of Pakistan or by May 31 whichever is earlier. It was further decided that only those mills will be allowed to export which have cleared outstanding dues to farmers…