Government Aims to Boost Rice Exports to $5 Billion by 2028, Announces Shahzad Malik
Published on: January 24, 2024.
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Pakistan’s rice export industry has the potential to reach $5 billion by 2028 and double that amount to $10 billion in the next decade, according to Shahzad Ali Malik, member of the Federal Export Advisory Council and Chairman of the Punjab Rice Research and Development Board. He emphasized the need to position Pakistan as a reliable source of rice supply with continuous surplus production in order to achieve these figures.
In the year 2002, rice exports from Pakistan amounted to around $462 million. However, this figure has significantly increased over the years, reaching $2.5 billion in 2023. Malik anticipates that it will exceed $3 billion by the end of this year. To maximize the potential for growth, Malik suggested capitalizing on India’s ban on rice exports. By meeting international demand and filling the gap left by India, Pakistan can establish itself as a dependable source of rice.
During a briefing to newly appointed trade and investment officers, Malik proposed that hybridization of rice seed is necessary to achieve surplus production. Pakistan cultivates two types of rice varieties: Basmati and non-Basmati. The IRRI variety of rice grown in Sindh was introduced in the 1960s and remained unchanged until the 1990s. Then, Guard Agriculture Research and Services collaborated with Chinese counterparts to trial hybrid seed.
The introduction of hybrid rice seed has been a success, doubling the yield for Sindh farmers from 45-50 maunds per acre to over 100 maunds per acre. This intervention has not only strengthened farmers financially and contributed to poverty alleviation in rural areas but has also increased rice production from 9 million tons in 2022 to 9.3 million tons in 2023.
Investing in hybrid seed technology and positioning itself as a reliable rice supplier can lead Pakistan towards significant growth in its rice export industry. With proper strategies in place, the country can increase its share in the global rice market and achieve its target of $5 billion in exports by 2028 and $10 billion in the following decade.
Source: [Business Recorder](https://www.brecorder.com)
