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May 2024

Rice export increases by over 76pc

PS:Business Recorder

The State Bank of Pakistan (SBP) has reported a notable surge in rice exports, marking a substantial increase of 76.57 percent compared to the previous fiscal year. According to SBP data, from July to March 2024, rice exports amounted to $2.690 billion, reflecting a significant rise from the corresponding period in the preceding year.

The data further reveals that during the same period in the last fiscal year, rice exports garnered $1.522 billion in foreign exchange earnings. Specifically, the export volume for March stood at $355.44 million, surpassing both the figures for February ($374.23 million) and March of the previous year ($200.84 million).

Analysis of the released data indicates that in the fiscal year 2023, the country accrued $2.10 billion in foreign exchange from rice exports.

Furthermore, the first nine months of the current financial year witnessed robust performance in the export of both basmati and non-basmati rice varieties. Basmati rice exports amounted to $631.33 million, marking a substantial 45 percent increase compared to the same period in the previous fiscal year.

Similarly, non-basmati rice exports during the first nine months of the financial year reached $2.058 million, reflecting a remarkable growth of 89.37 percent compared to the corresponding period in the preceding financial year. QR Code

Published Date: May 14, 2024

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