KARACHI: The improved production of corn (maize) has opened new export opportunities for Pakistani traders during this fiscal year. Pakistan's corn crop is likely to increase 10 percent during this season and the estimated crop size is about 6.5 million to 7 million metric tons. With improved maize production Pakistan is likely to export more commodity, said Pakistan Cereal Association (PCA) Chairman Muzzammil Chappal.
He informed that maize production in Punjab province has increased significantly as farmers cultivated maize on cotton areas due to rising prices of the commodity. Local market started from Rs 1,350 per mound and now the commodity is being traded at Rs 1,600 per mound. Chappal informed that per acre estimated crop would be 100 mounds this year.
Most crop origins are Dipalpur, Okara, Pakpattan, Arifwala, Burewala, Vehari, Bahawalnagar, Melsi and Multan. He said that Vietnam, Malaysia, UAE, Oman, Bahrain and some other countries are leading importers of Pakistani maize. The maize export rate would be some $280 to $290 per metric ton CFR basis.
"We are expecting that maize export is likely to cross 0.2 million metric tons by end of this season, if the sea freight remains stable and within the range of exporters," he added. He said that if the freight increases then its export will not be viable for the Pakistani traders.
Chappal said that Pakistan can emerge as a leading maize exporter and a strong competitor to India in the global corn market. Pakistan is currently offering maize at cheaper rates than other competitors in the global market.
He said that with some efforts and proper marketing of maize in the global market the government can earn millions of dollars foreign exchange by exporting maize. He said that there is a need to develop a long-term policy that can manage the production and export of the maize.
Copyright Business Recorder, 2021
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