Pakistan projects significant increase in rice production and exports in 2023/24

According to the United States Department of Agriculture (USDA) Gain Report, Pakistan has promising projections for rice production in the 2023/2024 season, which began in November 2023. The area allocated to rice cultivation in country was estimated at 3.5 million hectares, a considerable increase compared to the 3 million registered in the previous season. The forecast for the harvest of cereal in husk during the period from November 2023 to October 2024 is 13.501 million tons, resulting in 9 million tons processed. This represents a notable increase compared to the 5.5 million tons processed in the 2022/23 season. Pakistani rice exports are also expected to experience significant growth, expected to reach 5 million milled tonnes in 2023/24, compared to 3.74 million exported in the previous season. Ending stocks in the country were projected at 1.172 million processed ...