A productive meeting between the Rice Exporters Association of Pakistan (REAP) and the Department of Plant Protection (DPP) focused on key issues like opening up the Mexican market for Pakistani rice exporters and the registration of rice mills to facilitate exports to Russia and China. This collaboration will strengthen the rice export industry and promote trade between Pakistan and the world. Learn more at [reap.com.pk](https://reap.com.pk){target=”_blank” rel=”nofollow”}.

The Directorate General of Customs Valuation in Karachi has revised the customs values on rice colour sorting machines imported from China. In order to address under invoicing and loss of revenue, the directorate clarified that compressor plants and reconditioned compressor plants should be assessed separately. The directorate has also established different customs values based on the number of chutes. These actions aim to ensure fair customs values and prevent revenue loss. (Source: Business Recorder)

The Pakistan caretaker government has announced a reduction in petrol and high-speed diesel prices, effective for the next two weeks. The decision came after a decline in international market prices and a slight gain in the rupee against the US dollar. The government aims to exceed its target of PKR 869 billion in petroleum levy collection by the end of June.

The China (Hainan) International Winter Trade Fair for Tropical Agricultural Products showcases a diverse range of products from over 20 countries, providing a platform for global products to enter the Chinese market. With Cambodia as the guest country of honor and participants expressing confidence in the Chinese market’s growth potential, the fair offers excellent opportunities for international cooperation and business expansion.

Pakistan’s weekly inflation rate has hit a 6-month high of 43.16%. Food items, including sugar, pulses, eggs, and rice, are the main drivers of this surge. The State Bank of Pakistan is keeping its benchmark interest rate at a record high of 22% to combat the rising inflation.

Pakistan’s rice industry is booming, thanks to high-quality rice and competitive prices. Rice suppliers in Karachi ensure a smooth export process, making Pakistan a top choice for rice importers.

According to government data, India’s merchandise exports decreased by 2.83% in November, with a narrowed trade deficit of $20.58 billion. Imports also fell by 4.33% during the same month. However, despite global challenges, India’s GDP growth remains resilient, outperforming many other nations.

Pakistan, a leading rice exporter, aims to expand its rice business and increase volumes. With high-quality rice, it seeks to capitalize on global market advantages. Exporting 3.8 million metric tons, earning $2 billion in revenue in 2020-2021, represents a significant increase from the previous fiscal year. Pakistani rice’s superior taste, texture, and aroma drive demand, and marketing efforts have established strong global connections.

Prime Minister Narendra Modi pays tribute to the brave heroes of India’s 1971 war victory over Pakistan on Vijay Diwas, emphasizing their sacrifices and unwavering spirit that continue to be a source of pride for the nation.

Inflation in Pakistan reaches a six-month high of 43.16% as food prices, including sugar, pulses, eggs, and rice, continue to drive inflationary forces. The State Bank of Pakistan keeps interest rates at a record high of 22% to combat inflation. Gas prices also surge, and price changes vary across income groups and markets. Source: Geo News.