Indian exporters of basmati rice and tea are concerned about disruptions to their shipments to the Middle East due to escalating tensions. The potential impact on key markets like Iran poses significant challenges, with exporters closely monitoring the situation and preparing for potential challenges ahead. Source: [Source](https://enews.alwast.net)

The Foreign Minister of Saudi Arabia, Prince Faisal Bin Farhan Al Saud, arrived in Pakistan to enhance bilateral cooperation and economic partnership. The visit follows a $5 billion investment agreement between the two countries, and discussions are expected to focus on the Middle East tensions and expanding trade opportunities.

The Sindh government urges the federal government to increase the support price of cotton from Rs10,000 to Rs11,000 per 40kg to combat the 20% decline in cotton cultivation. Rising costs and water shortages are deterring farmers from growing cotton, threatening the industry’s sustainability. Source: Dawn.

Pakistan’s rice exports have soared to record levels, exceeding $2.5 billion in just eight months. This achievement is attributed to a robust harvest and support from the Ministry of Commerce, enabling Pakistan to maintain competitive prices and raise concerns for India’s Basmati exports.

The IMF has urged Pakistan to overhaul its tax system and impose taxes on non-essential items, including cigarettes, to increase revenue and improve public health. This recommendation has received positive feedback from health advocates and experts.

Iran’s recent attacks on Israel could disrupt shipping routes, leading to higher global freight prices. Pakistani market may be affected, but could see assistance from Saudi Arabia. Escalation could raise global oil prices and food prices, impacting Pakistan’s current account balance and inflation. It is recommended to focus on large cap sectors like banks, energy, and fertilizers.

The Saudi delegation’s visit to Pakistan is seen as a significant milestone for the country’s economy. President Atif Ikram Shaikh of the Federation of Pakistan Chambers of Commerce and Industry is optimistic about the visit’s positive response to the Prime Minister’s recent trip to Saudi Arabia. The aim is to restore investor confidence and ensure the successful continuation of investment projects in Pakistan.

Pakistan’s rice exports have surged to a record high of $2.5 billion in fiscal year 2024, driven by bumper crops and the strategic upward revision of Minimum Export Prices. However, challenges such as transportation costs and fraudulent practices must be addressed to maintain growth and ensure fair competition in the global rice market. Source: Dawn.com.

Gunmen fatally shoot Amir Tamba, acquitted suspect in the death of Indian spy Sarabjit Singh in Pakistan. Pakistani authorities investigate the incident, which heightens tensions between Pakistan and India, and the motive behind the attack remains unknown.

The US Department of Agriculture has revised its rice import forecast for the Philippines, indicating that improved harvests may result in a smaller total inflow of imported milled rice in 2024. Despite dry conditions caused by El Niño, a larger crop has led to a lowered import forecast of 3.9 million MT, down from 4.1 million MT.