The finance minister announced that wheat production of Pakistan is expected to surpass 28 million tonnes in the fiscal year 2022–2023—a significant increase over official projections.
The finance minister announced on Friday that wheat production of Pakistan is expected to surpass 28 million tonnes in the fiscal year 2022–2023—a significant increase over official projections.
In his budget speech, Finance Minister claimed that the bumper crop was the result of favourable weather and government assistance to farmers. “The agricultural sector has grown at a rate of 1.5% despite the devastation caused by floods.”
Wheat production of Pakistan increased due to the bumper crop, reaching more than 28 million tonnes, and farmers now earn more money. The transfer of 1,500–2,000 billion rupees to our rural economy. The overall economy of the nation will benefit from this, according to minister.
The Federal Committee on Agriculture (FCA) had earlier estimated the size of wheat production at 26.81 million tonnes on April 12, 2023. According to the body’s meeting minutes, the committee was informed that the estimated domestic wheat production for the crop year 2022–2023, from an area of 9.0 million hectares, is 26.8 million tonnes, an increase of 1.6 percent over the previous year’s 26.39 million tonnes.
The media predicted an increase in wheat production of up to 28 million tonnes the day before the FCA meeting. In South Punjab, a significant food basket, wheat growers have been harvesting a surprisingly high output despite weather-related difficulties.
In contrast to the national average of 32 maunds, many farmers are reporting yields of more than 50 maunds per acre. This change in wheat forecasts demonstrates how wheat plants miraculously avoided crop damage from wet weather, thanks to consistently cool temperatures and sunny days.
“On a national level, the likelihood of producing close to 28 million metric tonnes of wheat has not been out of sight,” the report from April 11, 2023, concludes. Market insiders estimate that with increased wheat production, 2023–2024 wheat imports could drop by 1.5 million tonnes, settling at around two million tonnes.
The larger crop also aids in stabilising the wildly erratic grain market, greatly relieving consumers. Punjab is now expected to harvest more than 21 million tonnes of wheat for the first time, exceeding the official production target of 21 million tonnes for 2023–2024, according to the most recent estimates of a bigger-than-estimated production of wheat.
The previous record-breaking year for wheat production at the national level was the fiscal year 2020–21, when the nation produced 27.46 million tonnes.