Saudi Arabia commits to increase rice imports from Pakistan to 20%, supporting Pakistan’s quest for $3 billion in rice exports. This aligns with efforts to enhance bilateral trade and investment, including Saudi Arabia’s recent pledge of $5 billion investment in Pakistan.

The government’s decision to increase FED on cigarettes has proven beneficial for revenue and public health, with a 40% rise in FED collection attributed to higher rates. This decrease in tobacco usage aligns with broader public health objectives and could lead to lower healthcare expenditures.

The Indonesian government aims to stabilize local rice prices by increasing rice imports. The recent international tender conducted by Bulog sought approximately 300,000 metric tons of rice, with the lowest price offered at $588.00 per ton c&f from Vietnam. A decision on the tender is expected soon.

Brazil and France’s finance ministers urge the international community to address tax-dodging by billionaires and implement fair, transparent, and progressive tax systems. They propose a global minimum tax and increased transparency to combat tax avoidance. The EU has already introduced a 15% minimum tax for multinational companies.

The USDA reports slow U.S. export sales in the week ending April 11th, with pork and rice hitting marketing year lows. However, corn and soybeans saw an increase in sales despite heavy competition. Beef sales improved, while wheat and sorghum had net reductions. For more on the rice export market, visit rice exporters. (Source: Brownfield Ag News)

The Canadian government plans to introduce halal mortgages to provide financing alternatives for Muslims and promote diversity in the housing market. This initiative aims to address the specific needs of Canadian Muslims and support greater participation in homeownership within diverse communities.

Pakistan secures deal with Saudi Arabia to triple rice exports, aiming to fulfill 20% of Saudi Arabia’s rice requirements and bolster Pakistan’s goal of reaching $3 billion in exports. This agreement further strengthens the trade relationship between the two countries.

Ambassador Blome emphasizes the potential for growth in Pakistan’s rice exports and encourages Pakistani exporters to tap into the growing demand in the U.S. market. He highlights the importance of building strong partnerships, competitive pricing, and diversifying the export market for long-term success.

Saudi Arabia plans to increase rice imports from Pakistan to meet 20% of its rice requirement, boosting Pakistan’s goal of $3 billion in rice exports. The Trade Development Authority of Pakistan is working to facilitate international trade and a high-powered Saudi delegation will visit Pakistan soon. A single country exhibition in Riyadh will showcase Pakistani products.

Pakistan’s rice exports are set to reach a record high, surpassing 5 million tons, due to favorable crop output and increased prices. With estimates suggesting exports will continue to rise and reach 5.5 million tons by 2023/24, Pakistan’s rice industry is experiencing unprecedented growth and poised for continued success.