Pakistan and Iran aim to enhance trade relations as they discuss economy, trade, and energy. The completion of the IP Gas Pipeline and leveraging opportunities presented by CPEC can unlock immense economic potential and pave the way for a prosperous and interconnected future. Pakistani rice exporters, such as HAS Rice, and Iranian businesses should explore these opportunities for strong trade partnerships.

The rice exporter associations, in collaboration with Rice Partners Pvt. Ltd and The Lord Sarfraz Foundation, organized successful medical camps and hygiene awareness programs in Punjab for agri-families and farmers, providing free medical care, education, and essential supplies to over 1500 patients.

Việt Nam’s rice exports have experienced significant growth in Q1 2024, with volume up 17.6% and export turnover up 45.5% compared to the previous year. Efforts to facilitate exports, including trade cooperation and new FTAs, have supported stable sales and allowed expansion into new markets. However, challenges remain in diversifying export markets and facing increased competition. The Ministry of Industry and Trade has outlined strategies to address these challenges and boost exports in 2024, with a positive outlook for Việt Nam’s rice industry.

Diesel, liquefied gas, Indian sugar, and gold prices fluctuated in Kabul over the past week. However, the price of Pakistani rice has significantly increased due to factors like demand and supply chain disruptions. Reliable rice exporters like Pakistan Rice Exporters and HAS Rice Pakistan offer a variety of high-quality rice products. Stay informed on the rice market through their websites.

Exports of high-quality basmati rice from India surged during April 2023 to February 2024, driven by robust demand in West Asia. Valued at USD 5.2 billion, the exports saw a 22% rise compared to the previous year’s figures. Volume-wise, exports increased by 14% to reach 4.68 million metric tonnes. The ban on non-basmati white rice exports and minimum export price were implemented by the Indian government to ensure domestic supply and prevent illegal exports. Despite concerns, India maintained its largest markets in West Asia, Europe, and North and South America.

Pakistan’s wheat production for the current season has increased by 5.4%, reaching 29.69 million tonnes cultivated across 9.6 million hectares. Tomato and potato production also saw growth, while the Federal Committee on Agriculture outlined production targets for upcoming crops. The country aims to ensure a sustainable and secure food supply for its population.

Federal Minister for Finance, Muhammad Aurangzeb, highlights the positive economic outlook for Pakistan’s agriculture sector, citing strong growth in agriculture, declining inflation rates, and other indicators. Various experts proposed solutions for addressing challenges and maximizing the sector’s potential for growth and revenue generation. The conference provided valuable insights into the sector’s future prospects.

India’s rice export prices have dropped to a three-month low due to weak demand and surplus supplies. The 5% broken parboiled rice variety was priced at $528-$536 per ton, down from last week’s $538-$546. Reduced exports and lower prices are being offered to attract overseas buyers.

The Federal Committee on Agriculture has set production targets for major crops for the upcoming kharif season. The targets include 10.8 million bales of cotton, 8.7 million tonnes of rice, 9.3 million tonnes of maize, and 76.7 million tonnes of sugarcane. Water availability in canals is expected to increase, and sufficient seed availability has been confirmed. The State Bank of Pakistan has increased institutional credit for agriculture, and favorable rainfall is predicted. Wheat production for the outgoing rabi season has seen a 5.4% increase.

The Pakistan government has set a target of producing 10.8 million bales of cotton for FY2024-25 to revive the struggling cotton sector. The Federal Committee on Agriculture emphasized the importance of innovative strategies to meet this target and highlighted cotton’s role in fueling exports and fostering economic prosperity.