Despite facing significant challenges such as production losses and adverse weather conditions, Pakistan managed to export a total of 3.717 million tonnes of rice, earning $2.149 billion during FY23.
The rice sector demonstrated resilience and determination in the face of devastating floods, which wiped out a third of Sindh’s crop, currency fluctuations, tough competition from India, high freight charges, and vessel unavailability during the first six months of 2022-23.
Of the total rice exports, 595,120 tonnes were basmati varieties, generating $650,423 at an average per tonne rate of $1,092. The export of coarse or non-basmati varieties reached 3.122 million tonnes, earning $1.498 billion at an average per tonne rate of $480.
However, these figures marked a decline from the preceding year when the country earned $2.5 billion from 4.8 million tonnes of rice exports.
The drop in exports was primarily caused by a decline in production. While the country had produced 9.1 million tonnes of rice in 2021-22, FY23’s output decreased to around 6 million tonnes, a decrease of over 34 per cent.