Pakistan is expecting record wheat and rice production in the 2023-24 marketing year, according to the US Department of Agriculture’s Foreign Agricultural Service (FAS).
Wheat production is forecast to reach 28 million tonnes, up 6% from the previous year and the highest level on record. Rice production is also expected to increase, to 9 million tonnes, which would be the second-largest crop on record.
The favorable weather conditions throughout the growing season and the government’s focus on increasing grain output are credited for the expected record production.
The record wheat and rice crops are expected to help Pakistan reduce its reliance on imports and improve its food security situation. The country is also expected to export a record amount of rice in 2023-24, which would boost its foreign exchange reserves.
The FAS report also noted that Pakistan’s wheat consumption is expected to reach an all-time high of 29.5 million tonnes in 2023-24. This is due to the country’s growing population and rising incomes.
Despite the expected record production, the FAS report warned that Pakistan’s wheat stocks could decline to 3.03 million tonnes in 2023-24, the lowest level since 2019-20. This could make the country more vulnerable to food price shocks in the event of a crop failure or other disruptions to the global wheat market.
Overall, the news of Pakistan’s expected record wheat and rice production is positive. It is a sign that the country is making progress in improving its food security situation. However, the government will need to continue to invest in agriculture and improve its wheat storage capacity to ensure that it can meet the growing demand for food in the coming years.