Deeply concerned at 0.6 million tonnes soybean detention


KARACHI: Suleman Chawla, Acting President FPCCI, has expressed his deep concerns on the detention and non-clearance 0.6 million tonnes of soybean at Karachi Port; and, has categorically warned that it will result in a massive and incapacitating shortage of poultry feed in the country. He added that poultry and dairy products are already beyond the purchasing power of consumers in Pakistan and has only recently shown some initial signs of price stability. Any further supply disruption will totally destroy price stability and drive food inflation even higher, he added. Suleman Chawla apprised that the importers are suffering heavy demurrages and terminal charges due to the detention; and, when coupled with unavailability of dollars and its price volatility, it will result in unbearable financial losses to the importers. He demanded that the government should make a swift call on the issue to avert worsening of food security in the country. Acting FPCCI Chief maintained that licensing and genetic modification have never been any issues with the Soybean imports from the U.S. as the importers have been importing from the same suppliers for many years on a recurrent basis. DNA