Hamid Malik, an expert of rice trade says that with the existing export trend, Pakistan will be able to cross the $2 billion export target of rice in this year. The basmati export went high by 45 percent to 64,274 tons during the month of March as compared to 44,137 tons in February.
This good trend of export is despite 25 percent loss of crop during the last flood and heavy rains. In monetary terms, the export of Basmati rice increased by 39 percent to $69,475 in March as compared to $49,875 during the month of February.
The export of non-basmati rice however, came down by 35.5 percent to 328,344 tons last month against 509,271 tons in February. In monetary term, the fall was about 21.3 percent. Total exports of rice during the month of March was 382,618 tons, the monetary value of which comes to $243,632 and the total tonnage of rice export from July to March in the current fiscal year stood at 2,907,322 tons, the monetary value of which comes to $1,598,261.
Out of the exports during the first eight months of this financial year, the share of basmati rice stood at 428,404 tons worth $456,361 and the share of non-basmati rice was 2,478,918 tons, worth $1,141,900.
An official of Rice Export Association (Reap) said, Ever high export prices and demand?are there in the foreign market. Though the crop is less in quantity but in term of the value, we are set to cross the $2bn mark. ?
He added, Machinery imports are stuck up. Things that are ultimately meant for exports are blocked. Letters of credit for planters, and rice processing machines are not being opened. The companies working on sustainable production agriculture are being disallowed to import solar panels.
Momim Malik, the Director of Seeds at Guard Agriculture Research and Services Ltd says as basmati rice are getting a good price, there is a growing trend of planting basmati this year instead of non-basmati rice.