Review Of The Pakistan Economy (Food And Agriculture)

A. M. G. A. M. G.

Abstract


During the period under review, from October 1960 to March
1961, prices of wheat at Lyallpur (West Pakistan) recorded a small net
increase while prices of rice at Dacca (East Pakistan) registered an
appreciable net decline. (See Table below) Wheat prices at Lyallpur
showed a persistent tendency to rise owing partly to drought conditions
and partly to withholding of stocks by traders in expectation of
shortages of foodgrains following enlarged shipments to the cyclone
affected areas of East Pakistan. Prices touched a peak of Rs. 17/12/-
18/14/- in the middle of January from Rs. 15/8/- 17/- per maund at the
close of September 1960. The continued release of government stocks at a
fixed rate of Rs. 16/- per maund through 250 centres was a major factor
for the reversal in the rising trend in prices. The onset of winter
rains also had a favourable impact on prices. As a result, there was a
marked decline in prices which closed finally at Rs. 16/- to 17/- at the
end of March 1961. Meanwhile, the final estimate of wheat crop for
1959-60 placed output at about 0.6 per cent higher at 3,876,000 tons
compared with the preceding year, the area under wheat cultivation
having risen by 1.6 per cent to 12,193,000 acres. However, the first
forecast of wheat crop for 1960-61 places the cultivated area at
10,428,000 acres or a decline of 16.0 per cent as against the first
forecast for 1959-60.

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DOI: https://doi.org/10.30541/v1i1pp.141-164

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