The Consumer Price Index (CPI)-based annual headline inflation in February 2024 decreased to 23.1%, providing some relief to the economy. However, annual food inflation remains high at 18% due to various factors impacting production costs and food transportation. Price fluctuations have been observed in rice and non-cereal food items, emphasizing the challenges in the market. Despite these concerns, the Terms of Trade (ToT) analysis shows a positive trend that can benefit the overall economy.

The World Food Programme (WFP) has provided essential aid to over half a million people in Pakistan, distributing food and cash assistance, supporting pregnant and breastfeeding women, and implementing resilience-building activities. They are also addressing malnutrition and promoting girls’ education while improving data analytics and decision-making through training. Source: ReliefWeb.

Chief Minister Maryam Nawaz inaugurates ‘Baisakhi’ at Kartarpur Sharif, expressing her happiness to be part of this honorable moment. Sikh women fold their hands to welcome her, while Sikh youths perform traditional Gatka. The chief minister visits the Sarovar, Samadhi, Guru Ghar, and appreciates the facilities provided to pilgrims.

Pakistan has emerged as a key player in the international rice market. With a wide range of rice varieties available, Pakistan rice exporters have gained a reputation for their high-quality products and competitive prices.

Saudi Arabia’s agreement to increase rice imports from Pakistan to meet 20% of its total requirement signals a boost for Pakistan’s rice exports and supports the country’s economy. This move is part of the growing trade and investment relations between the two nations.

Saudi Arabia commits to increase rice imports from Pakistan to 20%, supporting Pakistan’s quest for $3 billion in rice exports. This aligns with efforts to enhance bilateral trade and investment, including Saudi Arabia’s recent pledge of $5 billion investment in Pakistan.

The government’s decision to increase FED on cigarettes has proven beneficial for revenue and public health, with a 40% rise in FED collection attributed to higher rates. This decrease in tobacco usage aligns with broader public health objectives and could lead to lower healthcare expenditures.

The Indonesian government aims to stabilize local rice prices by increasing rice imports. The recent international tender conducted by Bulog sought approximately 300,000 metric tons of rice, with the lowest price offered at $588.00 per ton c&f from Vietnam. A decision on the tender is expected soon.

Brazil and France’s finance ministers urge the international community to address tax-dodging by billionaires and implement fair, transparent, and progressive tax systems. They propose a global minimum tax and increased transparency to combat tax avoidance. The EU has already introduced a 15% minimum tax for multinational companies.

The USDA reports slow U.S. export sales in the week ending April 11th, with pork and rice hitting marketing year lows. However, corn and soybeans saw an increase in sales despite heavy competition. Beef sales improved, while wheat and sorghum had net reductions. For more on the rice export market, visit rice exporters. (Source: Brownfield Ag News)