KARACHI: Growth prospects for the agriculture sector remains gloomy in the wake of a fall in the production of rice and sugarcane and expected decline in wheat harvest in coming months, the SBP said in its report.
According to SBP estimates, the production of rice and sugarcane dropped 8.3 per cent and 2.8 per cent to 6.4 million tons and 48.6 million tons in Kharif 2010, respectively.
“Although cotton output rose by 5.3 per cent in Kharif of fiscal 2010, its impact was more than offset by a decline in production of other major crops.”
The official target for wheat production in fiscal 2009-10 is 25 million tons. But lower rains in Nov-Dec 2009 period, which is sowing season for the crop, have dampened the prospects, the report said.
“As a result, the area under wheat cultivation has dropped by 1.9 per cent in the current fiscal year.” A substantial 50 per cent rise in cotton production in Sindh has increased the country’s total production to 12.7 million bales from 12 million bales in the previous year.
The SBP said the area under rice cultivation was already expected because of a fall in prices during the preceding season. “However, the recent surge in international prices due to supply constraints in India and the Philippines would also help motivate farmers to cultivate more rice in the coming Kharif season.”
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