rice exports surge by 83.37% in 9 months
Published on: May 1, 2024.
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Rice Exports from Pakistan Witness a Significant Growth
April 22, 2024 – Rice exports from Pakistan have seen a remarkable surge of 83.37 percent during the first three quarters of the current financial year, compared to the same period last year. According to the data released by the Pakistan Bureau of Statistics, from July to March 2023-2024, the country exported over 4.550 million metric tons of rice, amounting to $2.930 billion. This is a substantial increase from the exports of 2.939 million metric tons valued at $1.598 billion in the corresponding period of last year.
Encouragingly, the export of Basmati rice has also experienced a significant boost, witnessing a growth of 36.37 percent during the review period. Over 545,220 metric tons of Basmati rice worth $622.345 million were exported, compared to 430,543 metric tons valued at $456.357 million in the same period last year.
In the past nine months, the country generated $2.308 billion from the export of over 4.005 metric tons of other rice varieties. This represents an increase from the export of 2.508 million metric tons valued at $1.114 billion in the same period last year.
Overall, the export of food commodities witnessed a staggering growth of 48.17 percent during the first three-quarters of the current financial year. The total value of food commodities exported amounted to $5.651 billion, compared to $3.814 billion in the same period last year.
In March 2024, the export of food commodities from Pakistan increased by 16.35 percent compared to the previous year. The total worth of food commodities exported in March 2024 was $685.025 million, compared to $588.759 million in the same month last year.
Meanwhile, the import of food commodities into the country experienced a decline of 14.23 percent during the review period. Food imports decreased from $7.333 billion in the first three quarters of the last financial year to $6.290 billion in the first nine months of the current financial year.
This significant growth in rice exports from Pakistan is a positive sign for the country’s economy and showcases the potential of the rice industry. The rice exporters in Pakistan, such as Has Rice (https://www.hasrice.com) and Pakistan Rice (https://www.pakistanrice.com), have played a crucial role in this success. These rice suppliers and exporters from Pakistan have leveraged the demand for high-quality rice, including white broken rice and IRRI 6 rice, from countries around the world. Their dedication and commitment have made Pakistan one of the leading rice exporting countries globally.
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