{"id":6301,"date":"2023-08-04T10:37:25","date_gmt":"2023-08-04T10:37:25","guid":{"rendered":"https:\/\/ricenewstoday.com\/dev\/?p=6301"},"modified":"2023-08-04T10:37:39","modified_gmt":"2023-08-04T10:37:39","slug":"all-time-high-rice-exports-likely","status":"publish","type":"post","link":"https:\/\/ricenewstoday.com\/dev\/all-time-high-rice-exports-likely\/","title":{"rendered":"All-time high rice exports likely"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-30.png\" alt=\"\" class=\"wp-image-6302\" srcset=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-30.png 1024w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-30-600x450.png 600w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-30-300x225.png 300w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-30-768x576.png 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>KARACHI: The country\u2019s rice export fell sharply, ie, 14 percent during the last fiscal year (FY23) due to lower crop output because of flooding. However, the expected bumper crop and ban on rice export by India will help achieve all-time high rice exports during this fiscal year (FY24), exporters said.<\/strong><\/p>\n\n\n\n<p>According to official statistics, in terms of value Pakistan earned $ 2.14 billion foreign exchange against the export of rice during FY23 compared to $2.51 billion in the same period of fiscal year 2022 (FY22), depicting a decline of $ 364 million.<\/p>\n\n\n\n<p>Overall, in terms of volume rice export shrunk by 25 percent during the last fiscal year. The country exported 3.717 million metric tons of rice including basmati and other varieties during July-June of FY23 as against 4.97 million metric ton in corresponding period of previous year.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.brecorder.com\/news\/40253791\/growers-bring-3278m-acres-of-land-under-rice-cultivation\">Growers bring 3.278m acres of land under rice cultivation<\/a><\/strong><\/p>\n\n\n\n<p>\u201cLast year\u2019s flooding in the rice cultivated areas badly affected the rice crop output that resulted in the massive decline in the rice exports,\u201d said Rafique Suleman Convenor FPCCI Standing Committee on rice.<\/p>\n\n\n\n<p>He said last year, there was a shortfall of some 2 million metric tons in the rice crop production and the country produced some 6.5 million metric tons of rice. However, he said that this year a bumper rice crop is being estimated. \u201cAs per estimated, Pakistan will produce some 9 million metric tons of rice during the year and this will help to export more commodity,\u201d he added.<\/p>\n\n\n\n<p>There is only one reason for lower rice exports and that is flood, he said and added that the current decline in the rice exports is more than expected. \u201cWe were expecting a one million metric tons decline in the rice exports, but actually it fell some 1.2 million metric tons\u201d, he mentioned.<\/p>\n\n\n\n<p>Pakistan exporters make serious efforts to make higher rice exports, but, due to shortage of crop they were unable to maintain the previous year level. As this year, bumper rice export is expected, the country\u2019s rice exports will not only be higher than previous year but likely to touch an all time high level, Suleman said.<\/p>\n\n\n\n<p>In addition, the ban on rice exports by India will also help to explore new export markets for Pakistani exports, he added. \u201cWe will earn $2.7 to $3 billion through export of rice during this fiscal as sufficient rice stocks will be available for the exports,\u201d he said.<\/p>\n\n\n\n<p>The rice export prices are also gradually increasing and during the last two weeks rice prices in the world market have risen rapidly. On July 15, Thailand was offering a price of $ 495 per metric tons (FOB) and Pakistan was quoting $485 per metric tons (FoB), while now Thailand is offering $ 625 per metric tons and Pakistan rice prices rose to $600 per metric tons, Suleman maintained.<\/p>\n\n\n\n<p>He said during this season rice has been cultivated on a large area compared to previous year and growers will also be major beneficiaries of higher crop output and exports.<\/p>\n\n\n\n<p>Talking about the domestic rice prices he said that appreciation of dollar has contributed largely but it can be managed through administrative actions.<\/p>\n\n\n\n<p>Copyright Business Recorder, 2023<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KARACHI: The country\u2019s rice export fell sharply, ie, 14 percent during the last fiscal year (FY23) due to lower crop output because of flooding. However, the expected bumper crop and ban on rice export by India will help achieve all-time high rice exports during this fiscal year (FY24), exporters said. According to official statistics, in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6302,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[176],"tags":[46,160],"class_list":["post-6301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-asian-rice","tag-rice-export"],"acf":{"enable_premium_overlay":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>All-time high rice exports likely - Rice News Today<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"All-time high rice exports likely - Rice News Today\" \/>\n<meta property=\"og:description\" content=\"KARACHI: The country\u2019s rice export fell sharply, ie, 14 percent during the last fiscal year (FY23) due to lower crop output because of flooding. However, the expected bumper crop and ban on rice export by India will help achieve all-time high rice exports during this fiscal year (FY24), exporters said. According to official statistics, in [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ricenewstoday.com\/dev\/all-time-high-rice-exports-likely\/\" \/>\n<meta property=\"og:site_name\" content=\"Rice News Today\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-04T10:37:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-04T10:37:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-30.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"768\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Developer Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Developer Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/all-time-high-rice-exports-likely\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/all-time-high-rice-exports-likely\/\"},\"author\":{\"name\":\"Developer Team\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/#\/schema\/person\/5bab6fa4a598696885d5615daac778dd\"},\"headline\":\"All-time high rice exports likely\",\"datePublished\":\"2023-08-04T10:37:25+00:00\",\"dateModified\":\"2023-08-04T10:37:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/all-time-high-rice-exports-likely\/\"},\"wordCount\":516,\"publisher\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/#organization\"},\"image\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/all-time-high-rice-exports-likely\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-30.png\",\"keywords\":[\"Asian Rice\",\"Rice Export\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/all-time-high-rice-exports-likely\/\",\"url\":\"https:\/\/ricenewstoday.com\/dev\/all-time-high-rice-exports-likely\/\",\"name\":\"All-time high rice exports likely - 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