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June 18 - 24, 2001

Wheat to be exported to Iraq, Afghanistan

A total of 0.6 million tons of wheat this year was lost in barani areas of the country due to drought but no substantial loss occurred in the canal irrigated areas. However, despite being a little below target, Pakistan was still in a position to export surplus wheat during the current year.

Talking on Tuesday, federal minister for food and agriculture, Khair Mohammad Junejo, said that Pakistan was to export 100,000 tons wheat to Iraq and 280,000 tons to Afghanistan through Passco, whereas another 300,000 tons was to be sold to Afghanistan directly by Punjab, which had been delayed for six months. The carry-over of 3.5 million tons wheat, he said, had helped in self reliance in the food needs of the country. He said that over three million tons wheat, of the target of four million tons had been procured in Punjab so far, while the total wheat production was estimated at 19 million tons.

Kinnoo export up by 14.39%

The export of Pakistani kinnoo has increased by 14.39 per cent to $15.77 million during July-April 2000-2001. The President, Fruits and Vegetables Processor and Exporters Association, Mateen Siddiqui, said on Thursday that kinnoo export is likely to register an increase of at least 25 per cent this year.

He said the exporters have so far shipped 100,000 tons of kinnoo to Far Eastern countries, Gulf region and European destinations. He said last year, kinnoo export was estimated at 81,000 tons worth $13.69 million. He said that kinnoo prices were under pressure due to flooding of cheaper mandarin from Chinese suppliers in Far Eastern market early this year, posing a tough competition to Pakistani exporters. But the hectic marketing efforts helped Pakistan to regain its share in the market.

Parco gets five bids for petrol export

Pak Arab Refinery Limited (Parco) has received five bids in response to a global tender issued on May 26 for the export of 70,000-90,000 tons of petrol (90-RON unleaded) during July-September quarter.

Sources in the Parco told on Wednesday that these sealed bids have mainly come from companies originating from Germany, Singapore, the Far East and the Middle East till June 12, being the last date of submitting the offers. "We are in the process of evaluating these bids and will take final decision of awarding the tender in a couple of days," a senior Parco official said. Meanwhile, the sources said that the company has received a highest bid of $235 per ton for the petrol export.

Pakistan expects to earn $25-27 million through export of petrol in the July-September quarter depending on the fluctuations in the global prices. Parco officials were of the view that the global price will hover between $240-260 per ton in coming days.

They said that by end of June, Parco will complete shipment of 75,000 tons for April-June period as 50,000 tons has already been exported to the Middle East for onward shipments after attracting a bid price of $240 per ton on FOB basis in response to an earlier tender, issued three months back. Later, the company got an average price of $263 per ton in the last shipments.

The first shipment of 15,000 tons petrol was loaded from Pakistan State Oil's Keamari Terminal storage tanks for Middle Eastern Port in April. The storage capacity of the three tanks at the PSO Terminal B is approximately 17,000 tons.

Petrol has been 300,000 tons surplus to the local demand, and Pakistan can earn $75 million per annum. On export of Liquefied Petroleum Gas (LPG), Parco intends to issue a tender in a couple of days following government's approval for the export of 60,000 tons of surplus LPG. All the arrangement for export of LPG is ready at the refinery. "We intend to open up the tender in the end of this month in order to start shipments on quarterly basis," the official said.

Carpet, leather exports rise

Carpet export rose by 5.72 per cent to $243.640 million during the first 11 months of this fiscal from $230.470 million during the same period last year.

A news release issued by the Pakistan Carpet Manufacturers and Exporters Association (PCMEA) on Wednesday said the quantity of the carpets exported in July-May also rose to 5.269 million square meters from the previous year's 4.496 million.

The release said the performance of carpet exporters "improved despite the fact that unit price fell to $46 per square meter this year from last year's $52."

Exports grew by 7.24%

Country's exports grew by 7.24% during July-May, 2000-2001 to $8.249 billion against $7.693 billion during the same period of last year. According to provisional data released by the Federal Bureau of Statistics (FBS) on Tuesday , exports from Pakistan during 11 months of this fiscal stood at Rs478.715bn compared to Rs398.084 billion during the same period of 1999-2000, showing an increase of 20.25%.

Exports during May 2001 increased by 7.83% to $793.146 million over April, 2001 when recorded at $735.579 million and by 4.36% compared to May, 2000 $760.011 million. In rupee terms, export amounted to Rs49.040 billion in May 2001 compared to Rs44.920 billion in April, 2001 and Rs39.367bn during May, 2000 showing an increase of 9.17% over April, 2001 and 24.57% over May, 2000, respectively.

Trade expo held in Athens

A three-day Single Country Pakistan Trade Exhibition, organized by the Export Promotion Bureau (EPB) was held in Athens. The exhibition, first of its kind arranged by EPB in a hotel, attracted many people who showed great interest in Pakistani products, said a message received on Tuesday.