Food Exports Expected to Exceed $7 Billion by FY24
Published on: February 23, 2024.
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ISLAMABAD: Pakistani food exports are expected to reach over $7 billion by the end of the fiscal year 2023-24, according to Muhammad Zubair Motiwala, the Chief Executive of the Trade and Development Authority of Pakistan (TDAP). This projection represents a significant increase from the previous annual exports of about $4 billion in this sector.
Mr. Motiwala made these remarks during his speech at the Pakistan Pavilion at the ongoing Gulf Food Exhibition held at the Dubai Trade Centre. He emphasized that the TDAP has been focusing on enhancing the export of Pakistani food products, which has resulted in a substantial increase in exports within this sector. Mr. Motiwala believes that boosting exports is crucial for achieving economic prosperity and that the TDAP is playing a significant role in this effort.
At the Gulf Food festival, 100 Pakistani exhibitors are participating, with 45 of them being sponsored by the TDAP. The remaining exhibitors are self-sponsored. This strong presence highlights the commitment and enthusiasm of Pakistani exporters in showcasing their products in the international market.
During his speech, Mr. Motiwala also shared some notable achievements in specific food categories. He stated that sesame seed exports have seen an impressive growth of 300 to 400 percent this year. Furthermore, Pakistani rice exports are expected to surpass $3 billion, compared to the previous figures of approximately $1.5 billion.
These achievements reflect the hard work and dedication of the Pakistani food industry, as well as the quality and competitiveness of its products. The rising demand for Pakistani food items in the global market is a testament to their superior taste and nutritional value.
In conclusion, the future looks promising for Pakistani food exporters, with the sector expected to reach new heights in the coming years. The efforts of the TDAP and Pakistani exhibitors at international events like the Gulf Food Exhibition are crucial in promoting the country’s food industry and increasing its export potential.
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