Pakistan’s rice exports expanded by 35.40 percent during the first five months of the ongoing financial year (2024-25) in contrast with the exports of a similar period last year.
According to data from the Pakistan Bureau of Statistics (PBS), more than 2.377 million metric tons of rice, including basmati rice and different sorts, were exported between July and November 2024, estimated at $1.515 billion. This contrasts with the 1.721 million metric tons that were exported during a similar period last year, valued at $1.119 billion.
Exports of basmati rice expanded by 34.64 percent in the last five months of the ongoing fiscal year, adding up to 370,282 metric tons of the item valued at $386.116 million, contrasted with 244,664 metric tons and $286.778 million during a similar period last year.
Meanwhile, the nation earned $1.129 billion by exporting rice other than basmati in the last five months of the current fiscal year when contrasted with the exports of $832.523 million in a similar time of the last year.
Rice has played an important role in boosting overall food exports. In the first five months of FY25, rice exports surged by 35.40 year-on-year to $1.52 billion. Remarkably, the amount of basmati rice shipments rose by 34.64% and its worth by 51.34%. Exports of non-basmati rice expanded 35.67% in value and 35.92% in quantity in 5MFY25.
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An official announcement said the ministers guaranteed exporters to resolve their concerns and guarantee smooth activities for the sector. Mr. Kamal praised rice exporters for keeping up with their market position despite India’s returning rice trades and lifting cost control limits.
Mr. Tanveer assured the exporters that the government would promptly address legislative or compliance-related issues hindering products. The commerce minister pledged that with interim measures, all product orders would be fulfilled by Jan 15, 2025, while long-haul legislation is settled.
Because of a sustained surge in export figures throughout recent years, the average cost of basmati rice has flooded to Rs400 per kg from Rs150, limiting purchasing from domestic buyers.
During the period from July to November 2024, food products worth $3.155 billion were sent out when contrasted with the exports of $2.638 billion of the same period of the last year.
Then again, the food group imports into the country during the period under review decreased by 11.13 percent, and it was recorded at $2.977 billion as against the imports of $3.350 billion of the corresponding time of the last year.