LAHORE (Web Desk) - The country s rice exports (basmati and non-basmati) have recorded nearly 30 per cent decline in quantity and almost 11pc decline in value during the first five months of fiscal year 2022-23 as compared to the corresponding period of FY2021-22.

Pakistan registered quantity wise 44pc decline in export of basmati rice during the period of July-November 2022 as compared to the corresponding period.

Similarly, non-basmati varieties registered a quantity-wise decline of 12pc and 5pc in value in the same period.

According to the Rice Exporters Association of Pakistan (REAP) the rice export was hit hard owing to a 40pc decline in long grain (non-basmati) crops in Sindh due to unprecedented recent floods, every increasing value of the greenback against the Pak rupee coupled with a huge gap between its value in the interbank against the open market rates.

Likewise, basmati rice which is surplus in Punjab is being hoarded by the stockiest pushing the prices skyrocketing for the commodity.

During the period mentioned above, Pakistan exported 210,184 metric tons of basmati rice (July-November 2022) against the export of 302,771 metric tons in the same period of the corresponding year 2021.

Pakistan exported 1.1 million tons of non-basmati rice during the period July-Nov 2022 against 1.235 million tons in the corresponding period of 2021.