Pakistan’s former prime minister, Imran Khan, has been denied the opportunity to contest elections following a court’s rejection of his plea to suspend a previous conviction. This news is a setback for Khan, who has faced legal challenges throughout his political career and will not be able to participate in upcoming elections or hold public office.

The rerouting of shipping lines due to Red Sea attacks by Houthi rebels may increase the price of Indian basmati rice exports by 15 to 20 percent and impact long-grain rice exports from India to Egypt and European countries. Pakistani rice exporters, such as HAS Rice, may need to find alternative options to maintain their exports.

India may face a $4-5 billion export shortfall due to trade restrictions on wheat, rice, and sugar, with basmati rice shipments also being impacted by recent attacks. The government is monitoring the situation and considering alternative routes for shipments. Despite the challenges, growth in other farm commodity exports is expected to offset the deficit.

Pakistan’s textile exports decline by 8% MoM and 7% YoY in November due to rising gas prices, reflecting a decrease in value-added products like towels and readymade garments. The industry is concerned about achieving the government’s export target of $25 billion for the fiscal year, with analysts predicting exports to reach $17 billion instead. Meanwhile, the trade deficit narrowed by 10% MoM and 29% YoY in November as imports decreased more than exports.

Caretaker Finance Minister stresses the need for innovation and diversification in Pakistan’s economy to achieve sustainable growth through exports. The launch of the country’s first-ever EXIM Bank will provide lending, credit insurance, and guarantee services to exporters, enabling access to global markets and diversification of product portfolios. Read more here.

Limited supplies have caused prices of parboiled rice from top exporters to rise, with Vietnamese rates at their highest in 15 years. This increase has also driven up Indian rice prices, while Thailand has seen increased orders. Limited supply and increased demand are the main factors behind the rise.

Former Prime Minister Nawaz Sharif discussed the economic challenges faced by Pakistan, stressing that neighboring countries like India have made significant progress while Pakistan has lagged behind. He called for accountability for his own ousting and emphasized the importance of women’s development and controlling inflation.

India’s exports are expected to decrease by $4-5 billion this year, largely due to trade restrictions on wheat, rice, and sugar. Basmati rice exports are also at risk, dealing a blow to India’s position as a major exporter. However, the government is actively working to find solutions and recover its export industry.

Pakistan’s rice export has soared, with a record high of 4.08 million tons exported in the last fiscal year, driven by increasing demand for high-quality basmati rice, improved infrastructure, and the presence of efficient rice mills. The industry’s growth has positively impacted the country’s economy, with efforts underway to enhance competitiveness and explore new markets.

India’s exports may decrease by $4-5 billion due to trade restrictions on wheat, rice, and sugar, aimed at controlling domestic prices. Basmati rice shipments are also at risk due to attacks in the Red Sea. However, other agricultural exports, such as meat and dairy, show positive growth.