During the first month of 2024, rice imports in the Philippines increased by 6.15 percent, indicating a continued demand for the staple crop. Pakistan has become one of the major rice exporters to the Philippines, providing reliable supplies of high-quality rice.

Despite the Red Sea crisis causing increased freight costs and longer routes for shipments, India’s exports and imports remain unaffected. However, concerns remain regarding the significant rise in freight costs and its potential impact on trade volume.

The blockade on Pakistan has severely affected its rice export industry, leading to revenue decline, job losses, and disrupted supply chains. Pakistani exporters are seeking alternative trade routes and government support to overcome these challenges. It is crucial for the government to address these issues promptly for the industry’s revival and economic growth.

During a recent visit to Pakistan, an Ethiopian delegation led by Dr Eyob Tekalign Tolina, discussed trade and economic cooperation with Dr Shamshad Akhtar. Pakistan’s successful economic recovery and fiscal reforms impressed the Ethiopian delegates, who expressed interest in learning from Pakistan’s experiences. This exchange emphasizes the value of knowledge sharing between nations.

India’s ban on white rice and broken varieties, along with tensions in the Middle East, has caused a 30% decrease in rice shipments and a 12% impact on global trade. The ban has led to a shortage of premium Indian basmati rice and doubled freight rates.

Dr Sajjad Arshad, acting president of the FCCI, calls for urgent government action to revive the struggling SME sector in Faisalabad, citing exorbitant energy costs and inconsistent policies as major hurdles. Collaboration is needed among all stakeholders to steer the economy in the right direction.

Vietnam’s rice exports are on the rise, with the possibility of reaching the 6 million-ton target by year-end. Strong demand from traditional markets and new markets like Africa and the Middle East are contributing to the growth. Vietnam’s reputation for quality and competitive prices, along with government support and strict quality regulations, have helped drive the success of the rice export industry. Additionally, Vietnam is diversifying its agricultural exports to reduce dependence on rice. [Source: Vietnam Net]

The FAO reports a slight decrease in world food commodity prices, driven by lower prices of cereals and meat. Rice prices increased, while sugar prices rose due to concerns over below-average rains. Cereal production is expected to reach a record high in 2023.

According to the Food and Agriculture Organization, food commodity prices have slightly decreased, with cereals and meat experiencing declines. However, there was a slight increase in rice prices. Vegetable oil and dairy prices remained relatively steady, while sugar prices increased. Furthermore, a record high in cereal production is projected for 2023. (47 words)

Pakistan rice exporters have emerged as key players in the global market, meeting the growing demand for rice. Their commitment to quality, competitive pricing, and trusted partnerships have allowed them to establish a strong foothold in the industry. With a wide range of rice varieties and a reliable supply chain, they are well-positioned to meet the global market’s needs. Source: Baobinhduong.vn