Pakistan sees at least 25 mln T wheat from 2010/11 crop
ISLAMABAD: Pakistan is expected to produce at least 25 million tonnes of wheat in its 2010/11 crop, Finance Minister Hafiz Shaikh said on Friday, higher than the initial estimate.
“We are expecting that our wheat crop this year will cross 25 million tonnes,” he told reporters.
Industry officials had earlier feared the output would fall to 23.5 million tonnes against a target 25 million tonnes, after a decline in the area under wheat cultivation because of massive floods in 2010 and fertiliser shortages.
A food ministry official said good output was expected because of increased fertility in wheat-growing areas after the floods.
Pakistan produced a bumper crop of 23.8 million tonnes of wheat last year. The country consumes about 22 million tonnes a year. Harvesting of the 2010/11 crop is underway.
Asia’s third-largest wheat producer, Pakistan resumed wheat exports in January for the first time in three years after the government lifted a ban in December.
The three-year ban was lifted when the 2009/10 crop and carryover from the previous stocks led to market surplus.
Traders earlier hoped to export up to three million tones of wheat this year, but the quantity may now exceed that following new wheat output estimates.
The country had already exported or contracted to sell about 1.5 million tonnes of wheat so far.