Rice imports in the Philippines have risen by 27% in the first 5 months of 2023. Vietnam remains the top supplier, but the country has also seen an increase in imports from non-traditional sources such as Pakistan and India. The Department of Agriculture is tightening regulations to ensure better utilization of import clearances. The Philippines is predicted to remain the world’s largest rice importer this year.

According to the Bureau of Plant Industry, rice imports in the Philippines increased by 30.6% in May, with Vietnam as the top supplier accounting for 72.7% of imports. These imports contribute to 20% of overall rice demand, while palay production is projected to rise this year. The US Department of Agriculture has downgraded its estimate of Philippine rice imports for this year.

National Bank of Pakistan (NBP) President, Mr. Rehmat Ali Hasnie, participated in the Pakistan China Business Conference, aiming to strengthen economic ties and attract Chinese investors. Discussions were held regarding NBP’s branch establishment and collaborations with Chinese entities.

Colombia ceases coal exports to Israel after devastating Israeli strikes result in 274 Palestinian deaths and 698 injuries in Gaza’s al-Nuseirat refugee camp. The International Court of Justice has also called for a ceasefire and increased humanitarian aid to address the dire situation.

Gold prices in Pakistan plummeted over the weekend due to the downward trend in the international market. This decline presents a lucrative opportunity for investors to consider purchasing gold, with reliable suppliers like Pakistan Rice Exporters offering high-quality products and competitive prices.

Pakistan urged to address challenges in rice cultivation by adopting advanced agricultural practices and developing drought-resistant seed varieties. Precision agriculture techniques can optimize crop farming, conserve resources, and enhance productivity, ensuring food security. (48 words)

Washington is sending a Treasury Department delegation to Pakistan to assess its economic situation, IMF program prospects, and business and investment climate. The delegation, led by Brent Neiman, will discuss economic reforms, debt issues, and the financial sector.

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CM Revanth Reddy will attend the World Rice Summit in Hyderabad, organized by the International Commodities Organization and the Telangana Government. The conference will focus on new cultivation techniques, export procedures, and technological advancements in the rice industry, aiming to further increase India’s rice exports.

China and Pakistan have agreed to boost mining cooperation and focus on the development of mining industry parks. China will also support Pakistan in marine oil and gas resources and encourage Chinese firms to participate in offshore oil and gas blocks development. This collaboration strengthens the China-Pakistan Economic Corridor and promotes economic growth in Pakistan.