Top rice exporters are experiencing increased rates due to rising demand, with Thai prices reaching a near two-month high. Fluctuations in exchange rates have attributed to this increase, while India has a surplus supply of rice and Vietnam faces tight domestic supplies. Bangladesh does not need to import rice this year.

Pakistan’s recent surge in inflation has prompted debate among economists. While some attribute it to excessive demand from recovery packages, others argue it is a transient issue caused by supply disruptions. The IMF’s recent release of funds acknowledges the need for tight monetary policy, but may not fully address the complex factors behind the inflation. Higher energy prices and supply disruptions, rather than a surge in demand, have played a significant role in driving inflation. Pakistan’s economy has been affected, leading to a need for an IMF bailout and a call for gradual easing of monetary policy for recovery. Source: The News.

The Punjab Agriculture Minister stresses the significance of modern agricultural machinery in enhancing productivity. Under the “Transforming Punjab Agriculture” program, the government will provide interest-free loans, solar-powered tube-wells, and subsidized agricultural machinery to farmers. By embracing advanced equipment, Punjab aims to overcome resource constraints and adapt to changing climatic conditions, ushering in an era of agricultural prosperity. Source: technologytimes.pk

Pakistan’s Commerce Minister, Jam Kamal Khan, has urged increased trade relations between Pakistan and Belarus, highlighting the variety of goods both countries export to each other. Despite a recorded trade volume of $19.05 million, Minister Khan believes there is untapped potential for further collaboration, particularly in the dairy and agricultural sectors. Ambassador Andrei Metelitsa also suggested deeper cooperation in manufacturing harvesters and electric vehicle transports.

The United Nations is finalizing an international agreement to combat biopiracy by increasing transparency in the patenting of traditional knowledge regarding genetic resources. The goal is to protect these resources from exploitation in various industries. Developing countries and indigenous peoples consider this a significant victory, although several key issues still need to be resolved. The agreement aims to foster innovation while addressing the issue of biopiracy.

Agricultural experts advise farmers to start rice cultivation from May 20 for maximum yield. Timing is crucial for different rice crop varieties, and approved varieties should be used for disease resistance. Expert consultation is available at agriculture department offices.

Pakistan’s military reveals that a suicide bombing that killed Chinese engineers and a Pakistani driver was planned in Afghanistan, aiming to damage the Pakistan-China friendship. Pakistani Taliban and undocumented foreigners have been implicated in recent attacks, prompting tightened border security measures.

India continues to be the largest rice exporter, though facing export restrictions due to rising domestic rice prices. Despite a decrease in export volume, India exported 4.3 million tonnes of rice in Q1 2024, while Thailand, Vietnam, Pakistan, and the United States also experienced increases in their rice exports. India may reduce export limitations to ensure sufficient rice stock for domestic consumption.

The recent floods in Pakistan have caused extensive crop damage, leading to a decline in rice production and challenges for rice exporters. Despite these obstacles, Pakistan rice exporters are committed to meeting international demands through their high-quality rice varieties and strict quality control measures. Efforts are underway to stabilize the rice market and rebuild the agricultural sector. Source: AOL News.

India is cutting the floor price for basmati rice exports from $1,200 to $850 per metric ton to boost overseas sales. The move is expected to benefit farmers and maintain India’s leading position in the global basmati rice market.