Pakistan’s rice exports saw a major boost, the country has successfully arranged a significant reduction in the customs valuation of its rice shipments to Kenya. The customs rate has been decreased from $615 to $460 per metric ton—a reduction of $155 per ton—making Pakistani rice more affordable and competitive in the Kenyan market.
The development is following extensive negotiations and lobbying efforts by the Trade Mission at Pakistan’s High Commission in Nairobi. Pakistani trade officials had worked closely with the Kenya Revenue Authority (KRA) for highlighting all the concerns which are put forwarded by local rice exporters regarding the previously high customs valuation.
After sustained discussions, the KRA agreed to revise the valuation, creating new opportunities for Pakistani rice in Kenya’s market.
The reduction in customs valuation is anticipated to deliver a massive boost to the rice exports of Pak by improving affordability and market access.
Lower pricing means Pakistani rice will now look more appealing to Kenyan importers, strengthening Pakistan’s position as a leading global supplier. This initiative is likely to increase the demand for Pakistani rice and expand its footprint in the region as Kenya is one of the biggest users of rice in Africa.
Read more: Pakistan stops domestic rice fumigation to boost exports
The Trade Development Authority of Pakistan has admired the efforts and commitments of the trade mission in securing this breakthrough, and they are considering it as a step toward strengthening the global trade ties of PK. Officials have emphasized that this success highlights Pakistan’s dedication to supporting its exporters and ensuring they remain competitive in international markets.
Gov is trying to focus on mining trade barriers and improving access for Pakistani products all over the world besides rice. By negotiating favorable trade agreements and working closely with international regulatory authorities, Pakistan is intending to further expand its exports and enhance economic growth.
For rice exporters in Pakistan, this reduction in valuation is considered to be a game-changer, permitting them to compete more effectively in Kenya and potentially hiking their sales volumes. This is also highlighting the vitality of diplomatic and trade efforts in securing better opportunities for Pakistan’s agricultural sector on the global stage.