Pakistan prepares to enhance its position in the global sesame seed market
Published on: January 10, 2024.
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Pakistan Aims to Revolutionize Sesame Seed Market
In an effort to strengthen its position in the global market, the Trade Development Authority of Pakistan (TDAP) and the Ministry of Commerce have launched an ambitious initiative to focus on the sesame seed market. The strategy includes conducting informative awareness sessions for growers in key sesame-producing regions of the country.
Boosting Exports and Improving Trade Deficit
Pakistan has seen a significant increase in food exports, reaching $3.84 billion during the first half of FY24. Notably, exports of sesame seeds have risen by 273 percent to $364 million. Overall, the country’s exports have grown by 5 percent, while imports have decreased by 16 percent. This growth in exports and decrease in imports have played a crucial role in reducing Pakistan’s trade deficit by 34.3% to $11.14 billion.
Launch of Strategy
The initiative was officially launched through a seminar held in Lasbela, in collaboration with the Lasbela University of Agriculture Water and Marine Sciences. The seminar aimed to educate growers, farmers, and agricultural extension officers from Balochistan on global market trends, value addition strategies, and best practices for sesame seed production. The goal of these sessions is to optimize sesame seed production and quality to meet international standards.
Potential for Billion-Dollar Exports
The government has developed a comprehensive business plan to enhance sesame exports, with a target of reaching $1 billion in the near future. Balochistan’s sesame seed growers and farmers are expected to adopt new production technologies to increase yields and overall production. This development is projected to contribute to sustained growth in Pakistan’s exports and further strengthen its presence in the global sesame seed market.
Source: https://bnnbreaking.com
