pakistan aims to reach $10 billion in rice exports by 2028
Published on: December 21, 2023.
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LAHORE: The rice sector is targeting to expand its exports to $10 billion within the next five years, driven by an increase in exportable surplus and higher per acre paddy yield.
According to data, rice exports are expected to reach around 4.5 million tonnes in 2023, generating $2.5 billion in export proceeds.
This surge in export volume can be attributed to the production of 9 million tonnes of rice, which is the second-highest in the country’s history. Favorable weather conditions, the resilience of growers, the availability of water and fertilizers, and new markets have all contributed to this achievement, according to rice sector expert Hamid Malik.
A crucial factor contributing to this growth is the historically higher production of Basmati rice in Pakistan, particularly the premium quality C1121 variety. Unlike India, where the leading variety is 1509 Basmati, Pakistan has a unique advantage of producing higher-quality Basmati rice at a lower price. In November, domestic prices in Pakistan were 28% lower than India’s, providing exporters with an opportunity to ship premium quality rice at a competitive price point, explains Malik.
Shahzad Ali Malik, Chairman of Pakistan Hitech Hybrid Seed Association and member of the Export Advisory Council, believes that rice exports alone can contribute $10 billion to the economy by 2028. With the continuous increase in rice production and the availability of more exportable surplus, he envisions that the rice export industry can reach $5 billion by 2025. He recently discussed a roadmap to achieve this target in a council meeting.
Malik also highlights the significant rise in rice production in Sindh, where hybrid varieties are currently being cultivated. He suggests that Punjab should also explore the production of extra-long grain hybrid varieties to further enhance the export surplus.
Source: Dawn
