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May 2024

Pakistan’s Rice Exports Registers Record High in FY23-24

ISLAMABAD: Chairman of the Rice Exporters Association of Pakistan Chela Kewlani has said that Pakistan’s rice exports in the first seven months of the current fiscal year already reached what the country achieved in the last financial year and now exceed the previous figure. 

He further said that rice exports of the country registered an encouraging boost, due to a good crop size followed by an agreeable jump in the price adding that the shipments are now expected to exceed 5 million tons for the first time in history.

According to China Economic Net (CEN), as per the latest report from the US Department of Agriculture, the country’s rice exports in 2023/24 were expected to reach a record 5.5 million tons amid a sufficient boost of 46.3% from the last year’s 3.76 million tons.

Commenting on the status of enhanced export, Convenor FPCCI Standing Committee Rafique Suleman stated that Pakistan would be expected to produce some 9 million metric tons of rice during the year that would help to export more commodities. 

Meanwhile, a commodity expert said that price of the rice in the international market stood higher because of an export ban imposed by the Indian government in a bid to curb inflation, with the country’s market share previously around 40%, said a commodity expert. He further said that Pakistan should exploit this golden opportunity, to introduce its rice to new markets by actively marketing to more distant countries and regions.

Pakistan’s Rice Export to China Increased

Talking over the development, Commercial Counsellor in Beijing Ghulam Qadir said that Pakistan’s rice export to China in 2022 crossed USD 455 million with a volume of over one million tonnes, for the first time between China-Pakistan rice trade. He further said that Chinese traders were also looking forward to exploiting the chance to gain a greater share of Pakistani rice in the domestic market. QR Code

Published Date: April 17, 2024

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