Gov’t plans to import 7 mn tonnes of wheat next fiscal year

The government is planning to import 7 mn tonnes of wheat at an average cost of USD 220 mn per tonne during FY2018-19, Al Mal reports. As we noted yesterday, the government is also planning to increase its reliance on imported, rather than locally produced, wheat for subsidized bread production. The Supply Ministry is planning to purchase 4 mn tonnes of locally produced wheat during the current harvest season, which kicked off on Sunday.