The recent attacks on merchant ships in the Red Sea have caused a decrease in Basmati rice exports, resulting in a 5-10 percent decline in prices in the domestic market. Sunflower oil prices in India are also expected to rise by 3-4 percent due to the situation.

Pakistan’s trade sector experiences remarkable growth with a $5.6 billion improvement in the Balance of Payments (BoP), showcasing resilience and strong export performance. Agriculture, food, textile, manufacturing, and engineering sectors contribute to the positive trend. The country aims to support exporters and explore new markets.

Vietnam’s rice sector is projected to grow significantly in 2023, with an 11% increase in export volume expected, reaching over 8 million tonnes. Measures are being taken to ensure national food security, promote sustainable production, and diversify export markets, enhancing Vietnamese rice’s reputation and competitiveness.

Pakistan’s water crisis is reaching a critical point, with population growth and resource distribution issues putting pressure on water availability. The agricultural sector, which accounts for 95% of the country’s water usage, is especially vulnerable. Urgent action is needed to implement innovative solutions and ensure a sustainable future for Pakistan. Source: Daily Times.

Pakistan’s debut at the International Human Resources & Labour Services Expo in Riyadh highlights the country’s commitment to promoting its skilled workforce on a global scale. The expo provides an opportunity for Pakistan to showcase its labor force, forge agreements with Saudi and international companies, and enhance employment opportunities for Pakistani workers abroad.

Yemeni Ambassador Mohammad Motahar Alashabi emphasizes the importance of enhancing economic relations between Yemen and Pakistan during a meeting with FCCI. Both countries share views on international matters and can utilize this to their advantage in terms of economic benefits.

Australia aims to continue their winning streak in the highly anticipated Boxing Day Test against Pakistan. Pakistan, historically struggling in Test matches on Australian soil, aims to break their losing streak and secure a victory in the renowned Melbourne Cricket Ground.

The global food supply is facing challenges from El Nino, export curbs, and increased demand for biofuels, causing tightening supplies and higher prices, posing a risk to consumers worldwide.

Pakistan’s exports to the Middle East have surged by 28.98% in the first five months of the current fiscal year, reaching $1.257 billion. The increase in demand from countries like the UAE and Saudi Arabia has been a major contributing factor. The recent free trade agreement with GCC countries is expected to propel exports to the region even higher.

Pakistan’s trade sector has achieved a momentous milestone, with impressive year-on-year trade figures and a $5.6 billion improvement in the balance of payments. The Ministry of Commerce continues to support exporters and explore new export destinations to sustain this positive momentum.