The Baltic Exchange’s dry bulk sea freight index experiences a significant decline on weaker rates across all vessel segments, with the capesize index reaching its lowest point since January 17th. Meanwhile, Pakistan’s rice exports are predicted to reach a record high as buyers turn to Islamabad due to limited shipments from India.

Master Changan Motors Limited, a joint venture between Pakistan’s Master Group and China’s Changan Automobile, celebrates producing 40,000 vehicles in Pakistan. Their commitment to excellence is evident in their state-of-the-art facility and highly sought-after vehicles, which offer exceptional quality, performance, and affordability. Find out more [here](https://www.pakistanrice.com).

The Red Sea tensions caused by Houthi attacks have disrupted trade routes for rice exporters, resulting in higher logistic costs, delays in shipments, and a decline in profits. This has also impacted other sectors of trade and is expected to cost India over $30 billion in exports for the fiscal year.

The Pakistan Shipping Association (PSA) denies allegations of extra fees charged by shipping companies, emphasizing compliance with government regulations and fixed tariffs. PSA chairman Asim Siddiqui reaffirms the industry’s commitment to transparency and fair practices, dismissing claims of exorbitant charges.

The caretaker Minister for Interior urges the Islamabad Chamber of Commerce and Industry to develop a plan to increase exports from the ICT to $5 billion and proposes dividing the country into 39 sectors to achieve a $100 billion overall export target.

The recent Red Sea trade crisis has caused freight charges in Pakistan to surge by 150%, posing a threat to major export commodities like textiles and rice. Average charges have risen from $1,500 to $2,500 per container due to extended travel routes and container shortages caused by the crisis. Demurrages have also been incurred, and stakeholders are calling for reforms in the maritime trade policy to address the challenges faced.

The International Monetary Fund (IMF) has lowered its projection for Pakistan’s GDP growth rate, citing a more cautious outlook. However, the IMF emphasizes the need for managing inflation and implementing structural reforms for sustainable economic growth.

The Philippines and Vietnam have signed an agreement to boost rice trade, allowing private Vietnamese traders to supply up to 2 million metric tons of rice annually to Filipino counterparts. This strategic deal aims to ensure a sustainable food supply amidst challenges.

Cannabis is experiencing a paradigm shift as it moves from the shadows of societal stigma into the mainstream. The industrial and medicinal cannabis industries are paving the way for sustainable innovation and revolutionizing pain management. Pakistan has the potential to integrate into the global cannabis market, following Morocco’s success. Industrial cannabis is greening various industries and revolutionizing Pakistan’s textile sector. With its versatile applications and commitment to sustainability, industrial cannabis offers lucrative opportunities for growth and diversification. (50 words)

Master Changan Motors Limited celebrates a significant milestone of producing 40,000 vehicles at their state-of-the-art plant in Bin Qasim, Karachi. Their diverse range of high-quality, affordable vehicles has gained popularity in Pakistan, making them a leader in the automotive industry. For more information, visit their website at [rice exporters](https://www.hasrice.com).