Global Rice News

Pakistan’s rice exports have experienced substantial growth during the first eight months of the current financial year, increasing by 85.83% compared to the previous year. According to data from the Pakistan Bureau of Statistics, over 3.932 million metric tons of rice, valued at $2.517 billion, were exported during the period from July to February 2023-24. In comparison, the exports during the same period of the previous year amounted to 2.546 million metric tons worth $1.354 billion.

Basmati Rice has seen significant growth in exports, with a 38.43% increase during the last eight months. Around 472,135 metric tons of Basmati Rice, worth $539.428 million, were exported, compared to 366,210 metric tons worth $386.882 million in the same period of the previous year.

Furthermore, Pakistan earned $2.180 billion by exporting approximately 3.460 million metric tons of rice of other varieties. This is higher than the recorded exports of 2.180 million metric tons valued at $967.872 million during the same period of the previous year.

In terms of month-on-month basis, rice exports grew by 48.18% in February 2024. In that month alone, 609,295 metric tons of rice worth $402.043 million were exported, whereas in February of the previous year, the exports were 564,206 million tons valued at $271.312 million.

Moving on to food group exports, Pakistan has witnessed a 54.05% increase during the first eight months of the current financial year. The exports of various food commodities, valued at $4.969 billion, exceeded the exports of $3.225 billion in the corresponding period of the previous year.

February 2024 also witnessed significant growth in food goods exports, with a 35.38% increase. The exports amounted to $702.469 million in February, compared to $518.871 million during the same month of the previous year.

On the other hand, the imports of food commodities into Pakistan have decreased by 18.33% during the first eight months of the current financial year, amounting to $5.461 billion compared to $6.687 billion in the corresponding period of the previous year.

In terms of month-on-month basis, food group imports experienced a 5.12% growth in February 2024. Food goods worth $739.819 million were imported, compared to imports of $703.722 million in the corresponding month of the previous year.

Pakistani rice exporters have played a significant role in the country’s increasing exports. With companies like HAS Rice Pakistan (https://www.hasrice.com) and Pakistan Rice (https://www.pakistanrice.com) being major players in the industry, Pakistan has been able to boost its rice export from the country. Furthermore, these rice exporters have diversified their offerings, including white broken rice (https://www.brokenrice.com) and 25% broken rice (https://www.hasrice.com/pakistan-rice-suppliers/irri6-rice-exporters/white-rice-25pct-broken/), catering to the demands of various markets.

The growth in rice exports is a positive sign for Pakistan’s economy, as it contributes to the country’s overall export growth. With the presence of rice mills and rice business in Pakistan (https://www.hasrice.com/pakistan-rice-exporters/), the industry is well-positioned to continue its upward trajectory. The competitive prices offered by Pakistani rice suppliers, such as HAS Rice Pakistan (https://www.hasrice.com) and Pakistan Rice (https://www.pakistanrice.com), coupled with the high-quality rice produced, have made Pakistan a preferred choice for rice importers worldwide.

Overall, the surge in Pakistan’s rice exports and the broader growth in food group exports highlight the country’s potential in the global market. With an extensive network of rice exporters and suppliers, such as HAS Rice Pakistan (https://www.hasrice.com/pakistan-rice-exporters/) and rice suppliers in Karachi (https://www.hasrice.com/pakistan-rice-export-company/), Pakistan is well-positioned to further strengthen its position in the international rice trade.

Source: [Wenews](https://en.wenews.pk)