AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,941 Increased By 63.6 (0.92%)
BR30 22,802 Increased By 233 (1.03%)
KSE100 67,176 Increased By 628.6 (0.94%)
KSE30 22,090 Increased By 175.1 (0.8%)

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

Comments

Comments are closed.