Business

Mangoes exporters fear 20% decline in production due to climate change

Published

2 years ago

Farwa

Export of mangoes is scheduled to commence on May 20.
Prolonged winter, delayed summer has decreased mango production.
This season’s mangoes export target is set at 125,000 metric tonnes.

KARACHI: Owing to the adverse affects of climate change, fruit and vegetable exporters anticipate a 20% decline in this year’s mango crop, The News reported Friday.

While the agrarian economy has an annual capacity of approximately 1.8 million metric tonnes, it is feared that the production for the current season will be limited to 1.44 million metric tonnes due to the impact of climate change.

All Pakistan Fruit and Vegetable Exporters Association (PFVA) Patron-in-Chief Waheed Ahmed said an extended winter and delayed arrival of summer had contributed to a decline in mango production, as well as a diminished ability to combat diseases in mango orchards.

“Mango crop in Pakistan is facing the adverse effect of climate change during the current mango season, leading to a likely drop of 20% in production,” Ahmed said.

Ahmed warned that due to a prolonged winter and delayed summer season, mango production was decreasing, adding that the production of the fruit was directly affected by changing weather patterns.

He urged research institutes and provincial agriculture departments to provide resources and awareness to mango farmers to help them avert the negative impact of climate change.

This year’s export target for mangoes has been set at 125,000 metric tonnes. Achieving the target would earn Pakistan approximately $100 million in foreign exchange.

The export of mangoes is scheduled to commence on May 20.

Major buyers of Pakistani mangoes include Gulf countries, Iran, Central Asian countries, and the United Kingdom.

Additional important markets encompass Europe, Canada, the United States, and Japan. The reduction in mango production, coupled with quality issues arising from climatic effects, has resulted in increased costs for exports.

“Factors such as higher freight expenses, packaging and transport costs, as well as the ongoing deteriorating law and order situation, political instability, and disruptions in delivery, are posing significant challenges to mango exports,” cautioned Ahmed.

Within Pakistan, Punjab accounts for 70% of mango production, while Sindh contributes 29%, and Khyber Pakhtunkhwa holds 1% share.

Regarding export methods, Ahmed revealed that 50% of Pakistani mangoes are exported by sea, 35% by land, and 15% by air.

Business

E&P Companies Will Invest $5 Billion in Pakistan’s Petroleum Industry

Published

2 days ago

Farwa

Over the next three years, local and foreign companies involved in Pakistan’s oil and gas exploration and production sector have shown a strong desire to invest more than $5 billion in the nation’s energy sector.

Recent changes to the Petroleum Policy and the implementation of an exclusive tight gas policy, which provide better incentives and a more investor-friendly regulatory framework, are credited with the increase in investor confidence.

These strategic changes are expected to boost domestic energy production, open up new avenues for growth, and draw large amounts of both domestic and foreign investment.

Business

With inflation slowing, the SBP is anticipated to lower the policy rate for the eighth time in a row.

Published

2 days ago

Farwa

Businesspeople anticipate another reduction in the policy rate when the State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) releases the updated rate.

The interest rate for the upcoming two months will be announced by the central bank. It is still unclear if the rate will stay the same or be lowered to reflect stakeholder expectations.

According to experts, the policy rate will be lowered in order to further boost the nation’s economic sector.

Interest rates may be lowered for the seventh time in a row if the inflation rate declines significantly more than anticipated.

In its last six sessions, the MPC had cut the policy rate by 10 percent. In January 2025, it decreased the rate by one percent to 12pc.

12PC POLICY RATE

In January, the State Bank of Pakistan (SBP) announced cut in key policy rate by 100 basis points (bps) to 12 percent from 13pc in line with expectations of the business community.

The policy rate, which had been at 22 percent since June 2024, was slashed by 1,000 basis points to 12 percent.

The SBP governor said the decision was taken with careful consideration. “Although inflation is expected to decline next month (February), core inflation remains a pressing concern,” he stated.

Ahmed highlighted strong remittance inflows and robust export growth as key factors supporting the current account.