The government hopes to increase the local rice production rate to an estimated 1.3 million metric tons by 2030, to fill the deficit that is currently sourced externally.

There’s good news about rice exports. And there is bad news as well. In the first seven months of current fiscal year, ie between July 2021 and January 2022, the overall rice export earnings rose to about $1.287 billion from around $1.158 billion in the year-ago period. This, of course, is good news.

Pakistan’s Basmati rice exports grew by 8.97% month-on-month to $58.086 million in January 2022, as compared with $49.161 million in January 2021, WealthPK reported.

The Cambodian Ministry of Commerce has launched the registration of “Preah Vihear Rice” as a collective mark for the rice variety associated with the northern Cambodian province.

According to a new report published by Allied Market Research, titled, “Europe Basmati Rice Market by Type, Application, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2022–2031,” the Europe basmati rice market was valued at $551.8 million in 2020, and is projected to reach $866.5 million by 2031, registering a CAGR of 4.2%.

The Republic of Korea (RoK) has offered a preferential tax rate of 5 percent for 55,112 tonnes of rice imported from Vietnam, according to the Asia-Africa Market Department under the Ministry of Industry and Trade.

Rice export prices in Thailand fell to an over 1-1/2 month low this week due to a weaker baht, while an uptick in overseas buying boosted rates in leading exporter India.

A total of 1,731 tons of rice worth $2.3 million were exported from Iran to 27 countries during the current Iranian year’s first 10 months (March 21, 2021-Jan. 20), according to the spokesperson of the Islamic Republic of Iran Customs Administration.

Rice exports from the country during first 07 months of current financial year increased by 11.16% as compared the exports of the corresponding period of last year.

Rice exports from the country increased by 11.16 per cent to 2.179 million tonnes in the first seven months of current financial year (7MFY22) from 2.179m tonnes in the same period last year, trade data shared by the Pakistan Bureau of Statistics (PBS) showed on Friday.