The government has granted permission for the export of wheat, wheat flour, and broken rice to countries like Bhutan, Mali, and Indonesia to fulfill their food security needs. The Directorate General of Foreign Trade will facilitate the exports through the National Cooperative Exports Limited.

Port Qasim, Pakistan’s major maritime hub, experienced busy shipping operations with the arrival of significant vessels carrying coal, LNG, and gas oil. The port handled a cargo throughput of 187,374 tonnes, showcasing its efficiency in facilitating international trade and contributing to Pakistan’s economic growth.

The city administration in Karachi has fined 87 shopkeepers and vendors a total of Rs602,000 for overpricing essential items. This crackdown aims to ensure fair prices and discourage illegal profiteering, emphasizing the administration’s commitment to protecting the public during challenging times.

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According to a new research report, the Europe Basmati Rice Market is projected to reach $866.5 million by 2031, with a compound annual growth rate of 4.2%. The Indian variety segment is expected to have the highest revenue contribution, reaching $671.3 million by 2031 with a CAGR of 4.5%.

Shipping activity at the bustling port of Karachi highlights its importance as a major trading hub for various commodities, including rice. HAS Rice, a top rice supplier and exporter in Pakistan, ensures efficient cargo handling and competitive pricing for its quality products. Discover more about their services at https://www.hasrice.com.

Europe’s basmati rice market is projected to reach $866.5 million by 2031, with the Indian variety segment contributing the most revenue. Basmati rice, known for its aroma and cooking qualities, is popular in various cuisines. COVID-19 has impacted the market, but the demand for grains and pulses remains strong.

Pakistan aims to achieve 3.5% growth in its agriculture sector in 2023-24 to boost GDP. Major crops like rice and cotton, as well as livestock development, are expected to contribute significantly. Challenges such as floods and economic factors must be addressed to ensure sustained growth. – Source

The new season for basmati rice in India has witnessed a surge in prices fueled by high demand from Middle Eastern and European buyers. Export contracts have increased following a reduction in floor price, benefiting farmers. Prices for top varieties have risen, impacting consumers as well. India has already signed contracts to export around 500,000 metric tonnes of basmati rice this season. For more information, visit Business Standard.

Pakistan’s export performance is bouncing back with a significant increase in foreign bill discounting loans and monthly export earnings. This recovery, driven by solid underlying fundamentals rather than market fluctuations, is a positive sign for the country’s economic growth.