Pakistan targets a fourfold increase in rice exports by 2030
Published on: December 9, 2023.
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Pakistan Aims to Quadruple Rice Exports to $10 Billion by 2030
Pakistan has set a bold target to increase its annual rice exports to $10 billion by 2030, which is four times the current value of $2.5 billion. This ambitious goal is part of the country’s efforts to diversify its export range and enter new markets. During the inaugural meeting of the Export Advisory Council, chaired by Commerce Minister Gohar Ejaz, issues related to rice exports were extensively discussed.
The commerce minister expressed a strong desire to develop a precise roadmap to achieve the target of $10 billion in rice exports annually. This is in line with the federal government’s overall goal of reaching $100 billion in exports. Shehzad Ali Malik, the Chairman of the Punjab Rice Research Board and CEO of Guard Agricultural Research & Services, stated that Pakistan is well-positioned to significantly increase its rice exports. This is mainly due to the cultivation of high-yielding hybrid rice varieties and improvements in the quality of processed grains.
Malik informed the meeting participants that Pakistan’s rice exports may reach $3.5 billion in the current fiscal year through focused efforts on stricter quality checks and effective brand management globally. He emphasized that annual rice exports could be raised to $5 billion within three years, and the value could double by 2029-30, reaching $10 billion.
Addressing the need to meet the quality standards of different markets, including the European Union, Malik stressed the importance of resolving issues related to EU alerts on pesticide levels. He suggested that maximum residue levels (MRL) should be strictly monitored to ensure the sale of high-quality grains. To achieve this, Malik proposed the establishment of an analytical lab by KSK Rice Research Institute, funded by the Export Development Fund (EDF), to scientifically assess MRL in rice production.
In terms of international brand promotion, Malik highlighted the need for a strategy to establish Pakistani brands in the global market, particularly to compete against rivals like India. He suggested that FMCG brands in the food category should be given listing fees and shelf rentals in supermarkets through TDAP (Trade Development Authority of Pakistan) from the EDF. Furthermore, he recommended arranging gondola displays for FMCG brands in selected supermarket chains, with the cost covered by the EDF, to expand their market presence.
Malik also emphasized the importance of commercial counsellors identifying and establishing contacts with importers and distributors of FMCG brands globally. This proactive approach would enable the introduction of Pakistani FMCG brands and generate more foreign earnings. He highlighted the need to focus on establishing long-term FMCG brands instead of just pursuing short-term labeling contracts, which can easily shift to other source countries based on price or other factors.
Pakistan’s rice industry is determined to increase its global footprint. By implementing key strategies and addressing quality concerns, the country aims to achieve its ambitious goal of $10 billion in annual rice exports by 2030.
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