Record-High Rice Exports Reach $3 Billion in Nine Months
Published on: May 5, 2024.
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$3b Record High Rice Exports in Nine Months
Pakistan’s rice export industry has experienced a significant surge, reaching a record-breaking $3 billion in the initial nine months of FY24. This accomplishment highlights Pakistan’s rising prominence in the global rice market. Several factors have contributed to this success, including India’s ban on rice exports, favorable weather conditions, and the dedication of Pakistan’s paddy growers.
India’s ban on rice exports, as one of the world’s largest rice exporters, created a void in the market. Pakistan quickly seized this opportunity by stepping up to meet the increased demand from traditional Indian rice importers and exploring new markets previously dominated by India. With their high-quality rice varieties, Pakistan’s rice exporters have capitalized on this gap in the global supply chain.
Favorable weather conditions have also played a crucial role in bolstering Pakistan’s rice production. The country has experienced adequate rainfall and suitable temperatures throughout the growing season, leading to healthy crop yields. This has ensured a steady supply of rice for export.
In addition to the favorable weather conditions, Pakistan’s government policies and support mechanisms have facilitated the availability of inputs such as fertilizers and pesticides. This has allowed farmers to optimize their production and meet the requirements for exporting high-quality rice.
The resilience of Pakistan’s paddy growers deserves recognition for their dedication and hard work in maintaining consistent production levels despite various challenges. Advancements in agricultural technology and the development of new rice varieties and hybrid seeds by both the public and private sectors have also contributed to Pakistan’s competitiveness in the global rice market.
Rafique Suleman, an industry expert, emphasizes the collaborative efforts of various stakeholders, including exporters, farmers, researchers, and policymakers, in driving Pakistan’s rice export success. To ensure the long-term growth and sustainability of Pakistan’s rice export sector, continued investment in research and development, infrastructure improvements, and market diversification will be crucial.
Source: [Dunya News](https://dunyanews.tv)
