Rice Exports Expected to Reach $3 Billion Mark in Financial Year: Exporters
Published on: December 21, 2023.
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Rice exporters in Pakistan are optimistic about reaching the USD 3 billion milestone in the current financial year. Their goal is to increase this figure to USD 5 billion by the year 2025. This positive outlook is primarily due to the higher production levels, especially in the coarse variety, made possible by the use of hybrid seeds.
Shahzad Ali Malik (SI), former chairman of the Rice Exporters Association of Pakistan (REAP) and member of the Export Advisory Council (non-textile), expressed this optimism during an interview with Business Recorder. He emphasized that rice exports alone could potentially reach USD 10 billion by 2028, driven by the continuous increase in rice production and the availability of surplus for export.
In a recent meeting with the caretaker Federal Minister, Dr. Gohar Ejaz, Malik discussed a roadmap to boost rice exports. He highlighted the significant increase in rice production in Sindh, which has resulted in an abundance of grain available for export. While Sindh has already embraced hybrid varieties, there is still ample room for the promotion of extra-long grain hybrids in Punjab, which could greatly contribute to Pakistan’s export surplus.
During his visit to China with a government delegation, Malik, who is also the CEO of Guard Agricultural Research & Services (Pvt) Limited (GUARD), emphasized the potential for enhanced cooperation between Pakistan and China in the agriculture sector. Several memorandums of understanding (MoUs) have been signed between Pakistani and Chinese companies to develop higher yielding oilseed crops. Pakistan currently imports edible oil worth USD 4-5 billion annually, and promoting oilseed cultivation could help reduce this reliance on imports, thus saving precious foreign exchange.
Under the agreements, seed development companies from both countries will collaborate in developing hybrid seeds for canola, sunflower, and cotton crops. These hybrids will be resistant to heat stress and exhibit better yields. Already, Pakistan and China have successfully collaborated in developing hybrid rice and green chili seeds. Hybrid rice has been cultivated on a large scale in Sindh for many years, while hybrid chili seed production is a recent development.
Malik revealed that his company has also developed a new hybrid Basmati variety, which is expected to be commercially cultivated in Punjab during the next season. This variety promises to yield more per acre compared to existing varieties.
With the prospects of increased rice exports, close collaboration with China, and the development of hybrid varieties, the future of Pakistan’s rice industry looks promising.
