Pakistan wheat prices hit 29-month high amid import disputes

Pakistan's national average wheat price has reached a 29-month high, climbing to approximately Rs. 4,611 per 40 kilograms as of August 6, 2026. The surge is driven by tightening domestic supplies and market shortages, raising concerns regarding inflationary pressure on flour and household food budgets.

In response to supply concerns, the federal government has proposed importing up to 1 million metric tons of wheat, an initiative estimated to cost roughly $340 million. However, this plan faces resistance from provincial governments, including Punjab, which have shown reluctance to submit formal demands for additional imports. Instead, provinces appear inclined to rely on existing stocks held by the Pakistan Agricultural Storage and Services Corporation (PASSCO), which held approximately 1.783 million metric tons in early July.

While global wheat prices have also faced upward pressure due to extreme weather and Black Sea export disruptions, Pakistan's domestic situation is heavily influenced by local availability and government policy. A steering committee led by the Deputy Prime Minister is tasked with overseeing wheat import matters as officials work toward a final decision on the quantity and mechanism for procurement.