Oranges’ prices may surge by 50pc due to low production

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The prices of oranges may rise this winter as the production recorded very low (50 percent) due to acute canal water scarcity and unexpected higher temperatures during the flowering stage of plants, Pakistan Business Forum (PBF) said.

PBF Vice President Ahmad Jawad said ‘kinnow’ (orange) exports will resume from 1st week of December and the rate at farm price will be Rs. 2,000 per mound, according to the notification of the district administration due to less quantity.

In order to facilitate exporters, the State Bank of Pakistan should properly facilitate them precisely for Iranian and Russian markets to issue timely E-forms and make special arrangements for banking channels, he urged.

Jawad lamented that the State Bank of Pakistan (SBP) could not open formal banking channels both for Iranian and Russian markets for the last couple of years due to which their potential could not be tapped.—APP

 

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