Pakistan’s rice exports to global markets have surged by 60% to nearly 5.6 million tonnes amid trade restrictions imposed by India. This increase, valued at $3.6 billion, is attributed to India’s export ban and has boosted Pakistan’s market share to 10% globally.

Vietnam remains the top source of rice imports in the Philippines, with over 1.59 MMT imported so far this year. Following closely behind is Thailand with 339,670.74 MT imported. The Bureau of Plant Industry approved 4,198 import clearances for the safe importation of 4.9 MMT of rice. To further lower rice prices, the Neda Board has approved a tariff reduction for rice until 2028. According to the USDA, the Philippines’ rice import forecast for 2025 has been raised to 4.7 MMT.

The kite foiling world mourns the tragic loss of 18-year-old Tonga kite foiling star Jackson James Rice, who was set to make his Olympic debut. Rice died in a diving accident, leaving behind a promising talent and a community in shock.

South Korean scientists in Seoul are injecting beef cells into rice grains, creating “meaty rice” that could revolutionize the food industry. This innovative solution could combat food scarcity, support space exploration, and reduce environmental impact, while providing a reliable and nutritious protein source.

Chela Ram Kewlani, Chairman of REAP, opposes proposed changes in the National Budget, stating that converting the Final Tax Regime to a Hybrid model would harm Pakistan’s export trade. Kewlani argues that the policy would discourage exporters and investors and demands the continuation of the current 1% tax regime.

South Korean scientists have developed “meaty rice,” an eco-friendly and ethical protein source created by injecting beef cells into rice grains. This innovative method aims to revolutionize global eating habits, address food scarcity, and reduce the carbon footprint associated with traditional livestock farming.

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) strongly opposes the proposal in the federal budget to replace the fixed income tax regime for exporters with a 29% tax on profits. Industry leaders and export sectors criticize the move, citing potential harassment, corruption, and negative impacts on investors. Pakistan’s Telecom Operators Association also expresses concerns over heavy taxes in the budget, warning of potential legal complications and the withdrawal of foreign investment which could affect the development of Digital Pakistan.

Low cotton prices and lack of government support in Punjab have led to a shift in crop cultivation, causing a decrease in yield and cultivation area. This shift is most prominent in Bahawalpur, Multan, and Dera Ghazi Khan divisions, impacting the textile sector’s main raw material. As a result, cotton growers are turning to more profitable crops like sesame and rice.

Pakistan’s rice exports reach a record-breaking $3.6 billion, making it the top commodity in external trade. With projections of reaching $4 billion, the country aims to increase annual rice exports to $10 billion by 2030. Quality control and global branding are essential for achieving these goals. Source: The News.

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) strongly opposes the federal budget’s plan to replace the fixed income tax system for exporters with a 29% tax on profits, sparking widespread backlash among Pakistan’s export sectors. The proposal is deemed catastrophic by industry leaders, who fear increased harassment and corruption.