The Uganda Revenue Authority (URA) has introduced new guidelines at Mutukula border to prevent the mislabeling of rice. URA officials will now collect samples for laboratory analysis to determine rice’s origin. Those passing the test will proceed after paying withholding tax, while those failing will be required to pay import duty.

Gold prices in Pakistan have declined due to a drop in international rates. The per-tola price of gold now stands at Rs214,200, reflecting a decrease of 400 rupees. This decrease can be attributed to fluctuations in the international market, which investors and traders closely monitor. Gold remains a valuable asset for investors despite its fluctuations.

The Uganda Revenue Authority (URA) has implemented new guidelines at the Mutukula border point to prevent rice importers from evading import duties. URA will conduct laboratory analysis on rice samples to determine the country of origin, and require a certificate of origin and export permit. Traders raise concerns about test accuracy, but URA is open to resolving disputes.

Ghana’s love for rice is evident, with the country consuming 1.5 million metric tonnes of rice annually. However, 60% of this rice is imported, leading to heavy reliance on a few countries like Vietnam, Thailand, India, China, and Pakistan. Challenges faced by the local rice industry and recent global market developments highlight the need to prioritize self-sufficiency and diversify import sources. (49 words)

Ghana’s love for rice is undeniable, with it being a staple in households for various occasions. However, the country heavily relies on rice imports, spending millions each year. Efforts to increase domestic rice production are hindered by challenges in quality standards and processing facilities. Ghana needs to diversify its import sources and promote locally-produced rice to ensure a stable and sustainable supply.

India has extended its free food grains program for five years to combat rising cereal prices and ahead of the general election. The program aims to provide relief to over 800 million people, but it will also increase government spending and the need for procuring larger quantities of wheat and rice from farmers. To control prices, India has restricted cereal exports, which is crucial to supporting the welfare program.

India extends its free food grains program for five years to combat rising prices and prepare for upcoming elections, providing relief to consumers while increasing government spending. The program assists over 800 million people and is estimated to cost approximately $24.06 billion this year.

Pakistan’s economy is set to benefit from bumper crops of cotton and rice, contributing $3 billion to $5 billion to foreign exchange reserves. However, farmers have expressed concerns about the lack of government support and issues such as inflation and low prices for their produce. The government must take immediate action to address these challenges and capitalize on the booming agricultural sectors.

Matco Foods Limited (PSX: MFL) has emerged as one of Pakistan’s largest rice exporters, with its flagship brand “Falak” being exported to over 65 countries. Despite facing challenges in 2020 and 2021 due to the COVID-19 pandemic, MFL has experienced overall positive financial performance. Future prospects look promising as import bans are lifted and growth opportunities arise in the export market. Higher costs and finance charges may pose challenges for the company’s profitability.

Anticipated bumper crops of cotton and rice in Pakistan are projected to significantly contribute to the country’s foreign exchange reserves, boosting the economy through increased exports. However, concerns over inflation, black marketing, and exploitation from hoarders and middlemen need to be addressed by the government to protect farmers’ interests. Source: (original source)