The Philippines has seen a significant increase in rice imports, highlighting the ongoing demand for rice in the country. Trade partnerships with countries like Pakistan, known for its high-quality rice, play a crucial role in meeting the Philippines’ rice needs.

In a surprising development, the Philippines has recorded a record-breaking 570,000 metric ton of rice imports, a 40% increase compared to the previous year. This surge can be attributed to traders hedging against potential future price increases and preparing for the effects of El Niño. The country’s preparedness to tackle challenges and its position in global rice trading is reinforced by these statistics.

The Saudi-Pakistani Business Forum began in Riyadh, led by Minister of Commerce Dr. Majid Al-Qasabi. The event focuses on strengthening trade relations, exploring investment opportunities, and promoting collaboration between Saudi Arabia and Pakistan. With notable progress in trade exchanges, valued at $5.7 billion, both countries aim to achieve their ambitious trade target. Source: Saudi Gazette.

Muhammad Zubair Motiwala, Chief Executive of TDAP, praised the efforts of exhibitors at the Gulf Food Exhibition in promoting Pakistani products. He projected that food exports will surpass $7 billion this year and highlighted significant increases in sesame seed and rice exports. The TDAP is actively working to enhance exports for economic prosperity.

Pakistani food exports are projected to exceed $7 billion by 2023-24, a significant increase from the previous $4 billion. The Trade and Development Authority of Pakistan (TDAP) has played a crucial role in enhancing exports, with sesame seed exports growing by 300-400% and rice exports expected to surpass $3 billion. These achievements highlight the quality and competitiveness of Pakistani products in the global market.

High demand and limited supplies have caused the rates of parboiled rice exports from India to reach record highs, while prices in Vietnam have slipped due to stock buildup. Despite concerns about higher prices, Indian rice remains more affordable compared to other sources. Fluctuation of the local currency and limited demand are keeping Asia rice rates high, although new supplies are expected to enter the market next month. Bangladesh plans to import 500,000 tonnes of rice in an effort to cool domestic prices.

Pakistan’s rice exports have reached a record high of $2.121 billion in the first seven months of FY2024, attributed to a strong strategy following India’s export ban. Non-basmati rice earnings were $1.665 billion, and basmati rice accounted for $456.14 million. Despite challenges, Pakistan’s rice sector is projected to earn over $3 billion from 5 million tons of exports by year-end. The sector’s sustained growth depends on addressing quality standards and focusing on branded exports.

Pakistan’s rice exports soar with a record-breaking 24% increase in basmati rice shipments and remarkable growth in non-basmati rice exports. Rising global rice prices, due to an export ban by India, have led to higher foreign exchange earnings for Pakistan. The country is also expanding into new markets such as Indonesia, Malaysia, and Africa. This success highlights Pakistan’s agricultural capabilities and the dedication of its rice exporters.

The global rice syrup market is projected to reach a value of USD 2.27 billion by 2029, with a compound annual growth rate (CAGR) of 4.46%. Rice syrup is produced by fermenting rice and transforming it into syrup through a heating process. Key players in the market include Suzanne’s Specialties Inc., Cargill, Incorporated, and Nature Bio-Foods Ltd. In-depth market analysis and research methodology provide valuable insights and industry strategies for businesses to capitalize on the growing market. Source: https://www.databridgemarketresearch.com/reports/global-rice-syrup-market

Pakistan’s food exports are set to exceed $7 billion by the end of the financial year, with a 300-400% increase in sesame seed exports and a projected $3 billion in rice exports. This growth is credited to the Trade Development Authority of Pakistan’s efforts in promoting and expanding the presence of Pakistani products in international exhibitions.