Global Rice News

Pakistan Rice Exports Reach Record High Amid Good Crop Output

Pakistan’s rice exports are on track to hit a record high in recent years, boosted by a favorable crop size and increased prices. According to the Rice Exporters Association of Pakistan’s chairman, Chela Kewlani, the country’s rice exports have already exceeded the value achieved in the previous financial year. This surge in exports is expected to surpass 5 million tons for the first time in history.

The United States Department of Agriculture’s latest report predicts that Pakistan’s rice exports will continue to rise, reaching a record 5.5 million tons in 2023/24. This represents a significant increase of 46.3% compared to the previous year’s 3.76 million tons. The estimated rice production of 9 million metric tons in Pakistan will contribute to this impressive export performance, as noted by Rafique Suleman, the convener of the FPCCI Standing Committee on rice.

The growth in Pakistan’s rice exports can be attributed to the expansion of planting areas and advancements in agricultural technology. These developments have directly benefited growers, who have witnessed a 25% to 30% increase in rice prices compared to last year. This substantial price hike has resulted in higher foreign exchange earnings through increased shipments of the commodity.

The export ban imposed by the Indian government to control inflation has also contributed to global rice price increases. As the Indian market share declined, Pakistan saw an opportunity to tap into new markets. By actively marketing to more distant countries and regions, Pakistan’s rice exports have expanded into Southeast Asia and the Western Hemisphere in addition to its core markets.

On average, Basmati rice exports have fetched USD 1,146/ton, a significant increase from last year’s USD 1,044/ton. Non-basmati rice exports have also seen a rise, with an average price of USD 567/ton compared to USD 449/ton last year. These figures were shared by Hamid Malik, a commodity expert.

The lucrative Chinese market has also opened up to Pakistani rice. In 2022, Pakistan’s rice exports to China surpassed USD 455 million, with a volume exceeding one million tonnes. Chinese traders are keen to increase their share of Pakistani rice in the domestic market, with imports stable at over 200,000 tons annually in recent years.

Ding Yong, the East China Regional Manager of Shenzhen Vintop Import and Export Co., Ltd., highlighted the potential for promoting basmati rice in China. Yong mentioned that basmati rice is considered high-end and is popular in Southeast Asia and South Asia restaurants. The unique long-grain rice requires less water when cooking and is suitable for various dishes. Ding emphasized the need for more promotion and awareness of basmati rice among Chinese consumers to boost exports from Pakistan further.

In conclusion, Pakistan’s rice exports are experiencing unprecedented growth, driven by a robust crop output and favorable market conditions. With a record high expected for this fiscal year and predictions for sustained growth in the coming years, the rice industry in Pakistan is poised for continued success.

Source: [Daily Times](https://dailytimes.com.pk){:target=”_blank” rel=”nofollow”}