Boston, MA -- (SBWIRE) -- 01/03/2013 -- BMI View: The 2012 monsoon season was relatively kind to Pakistan's farmers, especially in comparison with the devastating floods of 2010. Although localised flooding caused severe destruction in parts of Sindh and Balochistan, the main breadbasket region of Punjab enjoyed late rains after a dry start to the season, improving the prospects of rice, corn and cotton in particular.

Key Forecasts

- Corn production to 2016/17: up 30.0% to 5.6mn tonnes. Continually improving yields and high prices on world markets will support an impressive increase in corn production.
- Cotton consumption to 2016/17: up 23.2% to 12.5mn tonnes. Demand for cotton will surge in the early years of our forecast as the EU lifts tariffs for a year, before falling back to steady yearon- year (y-o-y) growth.
- Rice production to 2016/17: up 16.5% to 7.3mn tonnes. Pakistan will retain its place among the world's most important exporters of the commodity as its producers look to expand into new markets.
- 2013 real GDP growth: 4.0%. Up from 3.7% y-o-y in 2012.
- Consumer price inflation: 12.4% in 2013 (up from 11% y-o-y in 2012).

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Industry Outlook

The 2012 monsoon season was relatively kind to Pakistan's farmers, especially relative to the devastating floods of 2010. Although localised flooding caused severe destruction in parts of Sindh and Balochistan, the main breadbasket region of Punjab enjoyed late rains after a dry start to the season; this has improved the prospects of rice, corn and cotton in particular.

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