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Pakistan's soon-to-be harvested 2016/17 wheat crop is forecast at 25.3 million tons, marginally higher from last year's revised production. The Government has established a procurement target of 6.95 million metric tons, which is expected to raise government-held stocks to around 11 million metric tons at the completion of the procurement season in a few months. Wheat trade estimates are largely unchanged from year to year and Afghanistan remains Pakistan's sole export market, taking 600,000 metric tons of wheat (in the form of flour). MY 2016/17 rice exports are forecast at 4.2 million metric tons, unchanged from the revised current year estimate. MY 2016/2017 corn production is estimated at 5.2 million tons, four percent higher than MY 2015/16 production. The Government of Pakistan imposes a thirty percent regulatory duty and ten percent customs duty on imports of corn.
Wheat
Production:
Wheat is one of the main agricultural crops in Pakistan, with 80 percent of farmers growing it on an area of around nine million hectares (close to 40 percent of the country's total cultivated land) during the winter or “Rabi" season. This crop alone contributed about 10 percent of value added in agriculture and 2.1 percent of the country's gross domestic product (GDP) in 2015. Marketing year (MY) 2016/17 wheat production is forecast at 25.3 million metric tons, marginally higher than a year ago. The anticipated good harvest is due to timely planting, greater availability and use of irrigation water, improved quantity and quality of inputs and favorable weather conditions. MY 2015/16 production is adjusted upwards to 25.1 million metric tons, in accordance with latest government of Pakistan figures.
The Government of Pakistan has decided to buy 6.95 million metric tons of wheat from the next harvest against the target of 6.6 million tons in the previous year. The Government has maintained the wheat support price for the MY 2016/17 crop at the last year's level of Rs. 1,300 per
