Global Rice News

ISLAMABAD – The export of rice surged by 19.04 percent during the first four months of current financial year (2021-22) as compared to the exports of the corresponding period of last year.

At a time when rice exports of the country were on escalating trend, the production of the rice crop has also been estimated at over 9 million tons during current season as compared to the output 8.4 million tons of same period of last year.

Pakistan exported rice worth $594.528 million during July-October (2021-22) against the exports of $499.442 million during July-October (2020-21), showing growth of 19.04 percent, according to the Pakistan Bureau of Statistics (PBS).

Among the rice commodities, the exports of Basmati rice increased by 27.44 percent as these surged from $161.654 million last year to $206.013 million during the current year. The exports of other rice commodities also grew by 15.02 percent by going up from $337.788 million last year to $388.515 million during the current year, the PBS data revealed.

In terms of quantity, the overall rice exports grew by 22.60 percent including Basmati rice by 39.59 percent and other rice commodities by 18.59 percent, the PBS data revealed.

Meanwhile, on year-on-year basis, the rice exports witnessed an increase of 22.99 percent in October 2021 as compared with the export of the same month of last year. The rice exports in October 2021 were recorded at $171.335 million against exports of $139.306 million in October 2020. During the period under review, the exports of basmati rice increased by 28.09 percent whereas that of other rice commodities went up by 20.88 percent.

On month-on-month basis, the rice exports increased by 19.87 percent when compared to the exports of $142.933 million in September 2021. On month-on-month basis, the Basmati exports grew by 32.19 percent whereas the exports of other rice commodities increased by 28.03 percent.

The overall food exports from the country increased by 26.91 percent during the first four months of current year compared to last year.

The food exports from the country were recorded at $1434.398 million during July-October (2021-22) against the exports of $1130.250 million during July-October (2020-21).

It is pertinent to mention here that the country’s total merchandise exports surged by 24.94 during the first four months of the current fiscal year compared to the corresponding period of last year. The exports during the period were recorded at $9.462 billion against the exports of $7.573 billion during same period of last year.

On the other hand, the imports into the country also surged by 65.40 percent by growing from $15.176 billion last year to $25.101 billion during the current fiscal year, the PBS data added.

Copyright © 2021 | Nawaiwaqt Group

https://nation.com.pk/14-Dec-2021/rice-export-surges-by-19pc-to-dollar-594-5m-in-4-months