Pakistan’s import bill has seen a significant decline of 16.28% in the first half of fiscal year 2023-24, resulting in a contraction of the trade deficit by 34.79%. On the other hand, exports have grown by 5.17%, signaling improved economic conditions and global demand. These developments contribute to Pakistan’s overall economic stability and resilience as it navigates through challenges.

Climate change threatens India’s agriculture due to extreme weather events and government price controls. Despite being a major food exporter, political obstacles hinder finding a solution to this urgent issue, with implications for global food security.

A World Bank report reveals that 71% of households in Bangladesh are concerned about rising food prices, with inflation remaining high. The report shows that Bangladesh has significantly higher food consumption costs compared to neighboring countries, with Pakistan experiencing the highest food inflation. Analysts blame insufficient government measures and market syndicates for the situation.

Farmers in Srikakulam face procurement challenges as millers impose conditions and extract extra paddy under the pretext of deficiencies. Brokers’ involvement raises concerns about transparency, while officials turn a blind eye. Prompt action is needed to protect farmers and ensure a fair and efficient procurement system. For more information on the rice industry, visit https://www.hasrice.com.

Muhammad Alamgir Chaudhry, CEO of the National Productivity Organisation (NPO), has invited the Faisalabad Chamber of Commerce and Industry (FCCI) to provide recommendations for a new industrial policy, emphasizing the importance of value addition in agricultural products and the need for consistent government policies and new technologies to boost various industries. Source: Dawn.

Inflation in Pakistan continues to surge, reaching a record high of 29.7% last month, driven by soaring prices of food and energy goods. Both urban and rural areas witness significant increases, with the price of fresh vegetables being considerably higher. The government may struggle to meet its annual inflation target of 21%.

According to a report by the World Bank, the high food inflation in Bangladesh is a concern for 71% of households, with rising prices affecting consumers’ financial well-being. Factors such as heavy dependence on rice imports, climate change, and post-harvest losses contribute to the inflationary pressure. Enhancing domestic production, cooperation with neighboring rice-exporting countries, and addressing food waste are crucial for achieving food security and affordability.

Pakistan’s kinno export is projected to decline by 50% this season, impacting the economy. Quality and shelf life issues, as well as competition from other countries, have affected exports. The decline in export duration and closure of processing plants exacerbate the situation. urgent intervention is needed to address these challenges and regain the country’s position in the international market.

The Central government’s new regulations for grading rice include the creation of a separate category for five aromatic rice varieties from West Bengal. This move aims to enhance the export potential of indigenous aromatic rice and benefit farmers in the region. Read more about it here.

Faisalabad Chamber of Commerce & Industry (FCCI) is urged to provide viable suggestions for a new industrial policy, emphasizing the need for value addition in agricultural products and reducing post-harvest losses. The NPO plans to disseminate information on its facilities and organize workshops.