News

Pakistan’s rice exports set to reach 5 mil mt in FY 2023-24 on good crop output

Rice
Pakistan
Market & Price Trends
Published Feb 27, 2024

Tridge summary

Pakistan's rice exports have seen a significant increase in the seven months leading up to January 31, due to a combination of a good crop yield and a rise in prices. This surge is also attributed to an export ban imposed by India to control inflation. The Rice Exporters Association of Pakistan predicts that shipments could reach a historic 5 million mt. In terms of value, the exports have already matched the total of the last financial year. Additionally, Pakistan has expanded its market reach to include Indonesia, Malaysia, and some African countries.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Pakistan’s rice exports soared in the seven months to Jan. 31 owing to a good crop size and a jump in prices, with shipments expected to reach 5 million mt for the first time in history, said Chela Kewlani, chairman, Rice Exporters Association of Pakistan. “In terms of value, rice exports in seven months of the fiscal year have already reached what the country achieved in the last financial year,” Kewlani said in a telephonic conversation Feb. 18. Basmati rice exports during July to January rose 24% to 398,764 mt compared with 320,751 mt year on year, according to data from the Pakistan Bureau of Statistics. Non-basmati exports rose to 2.924 million mt in the seven months ended Jan. 31, as compared with 1.661 million mt in prior-year period, a rise of 76%, the data showed. The country’s fiscal year runs from July to June. Global rice prices are up because of an export ban imposed by the Indian government in a bid to curb inflation, with the country’s market share previously around ...
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