Pakistan is likely to export 1.2 million bales of cotton, 4 million tons of rice and 2 million tons of wheat for the year 2011-12 against the estimated production of about 14 million bales of cotton, 6.8 million tons rice and 25 million tons of wheat.
Well-placed sources told Business Recorder here on Wednesday that due to cotton crop damages in Sindh, the total production of the crop was expected to be not more than 14-14.5 million bales. "Cotton is being sold at 93 cents per pound in the international market which means that in the local market its price must be not less than Rs 7000 per maund but the overall situation is quite different.
In the domestic market, the commodity is being sold at Rs 5300-5800 per maund", sources added. "Pakistan has so far exported 0.8 million bales of cotton while it is expected to export around 1.2 million bales of thereby contributing up to Rs 40 billion to the national exchequer. Out of 0.8 million cotton bales, 150,000 bales have been exported to India at 55-65 cents per pound", sources revealed.
Sources said that total rice exports so far were 2.3 million tons adding 1.3 billion dollars to the national exchequer. "We are expecting the rice exports worth $2 billion for 2011-12," they further revealed. Because of increased output in Asia, notably in China and India, global rice production is projected to be 459 million tons in 2011/12. "Pakistan was expected to earn $2.5 billion during the current fiscal year but due to increase in rice production in India and China, overall export revenue from rice would not be more than $2 billion", sources said.
Pakistani rice is considered among the best quality rice in the world and the need of the hour is to increase the marketing of our rice through commercial attaches in international market. "For the next three years, our target is to earn dollar $4 billion through rice exports", sources added. The production of a crop mainly depends upon three factors: use of fertilizers, use of water and use of certified seeds. Unfortunately, the farmers in Pakistan are deprived of adequate use of fertilizers, water and certified seeds used to enhance crop production.
The poor farmers will have to pay about Rs 60 billion as General Sales Tax (GST) this year on the purchase of fertilizers, pesticides, farm machinery and tractors. The wheat production target is estimated to be 25 million tons. While according to sources, it would be not more than 23 million tons due to a considerable reduction in wheat sowing area.
"The total wheat stocks available with PASSCO and the provincial food departments are 5 million tons and till the arrival of the new wheat crop in April, one million tons would be utilised. If Pakistan gets 23 million tons of wheat crop rather than 25 million tons, even then it would be able to export 2 million tons which would add around Rs 55-60 billion to the national exchequer", sources added. "World wide wheat production in 2011-12 is expected to be around 690 million tons against the global consumption of 681 million tons", sources said.