Rice Exports Experience 0.98% Increase in First Quarter
Published on: October 28, 2023.
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ISLAMABAD-The country’s rice exporters have shown positive growth in the first quarter of the fiscal year compared to the previous year. From July to September 2023, rice exports reached an impressive 559,557 metric tons, with a total value of $406.387 million. This is a notable achievement compared to the same period in the previous year, where 724,082 metric tons of rice, worth $402.461 million, were exported, according to data released by the Pakistan Bureau of Statistics.
During the past three months, Basmati rice exports saw a growth of 20.48 percent, with 134,839 metric tons of Basmati rice, valued at $131.611 million, being exported. This is an increase from 130,054 metric tons, costing $131.611 million, exported in the same period last year. The country’s food group exports during the first quarter of the financial year 2023-24 also increased by 18.88 percent, with food commodities worth $1.280 billion being exported. In addition, the exports of fish and fish preparations increased by 3.75 percent, with 37,803 metric tons of fish, costing $83.064 million, being exported.
Moreover, the country earned $88.668 million by exporting approximately 155,776 metric tons of fruits. This is an increase from the exports of 105,950 metric tons of fruits valued at $78.867 million during the same period last year.
Additionally, in the first quarter of the current financial year, over 96 metric tons of leguminous vegetables (pulses), valued at $84,000, were exported. This marks an increase of 80.08 percent from the same period last year when 48 metric tons, costing $47,000, were exported.
However, during the first quarter of the current financial year, food group imports into the country decreased by 32.00 percent. Food commodities worth $1.85 billion were imported, compared to $2.723 billion during the same period of the previous year.
Overall, the rice exporters of Pakistan have shown promising growth in the first quarter of the fiscal year, contributing significantly to the country’s economy. With the increase in exports of various food commodities, including rice, fish, fruits, and vegetables, Pakistan is establishing itself as a key player in the international market.
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