Pakistan's rice exports will reach 5 million tons in 2023-2024

Published 2024년 2월 26일

Tridge summary

Pakistan has seen a significant increase in its rice exports in the seven months leading up to January 31, due to a good crop yield and increased prices. The country is on track to export a record 5 million tonnes of rice, with Basmati exports up by 24% and non-Basmati exports up by 76%. This surge in exports is partly due to India's export ban, which allowed Pakistan to fill the gap left by India's 40% market share. Additionally, Pakistan has successfully expanded its market to new regions including Indonesia, Malaysia, and some African countries.

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Original content

Pakistan's rice exports rose sharply in the seven months to January 31 thanks to a good crop size and a jump in prices. Shipments are expected to reach 5 million tonnes for the first time in history, said Chela Ram Kewlani, chairman of the Pakistan Rice Exporters Association. “In value terms, rice exports in the seven months of the fiscal year have already reached what the country achieved in the last fiscal year,” Chela Ram Kewlani said in a telephone conversation on February 18, S&P Global Platts reported. Basmati rice exports rose 24% to 398,764 tonnes between July and January, up from 320,751 tonnes year-on-year, according to the Pakistan Bureau of Statistics. Exports of non-basmati products rose to 2.924 million tonnes in the seven months ended January 31 from 1.661 million tonnes in the previous year, a rise of 76%, the data showed. The country's financial year runs from July to June. Global rice prices are rising due to an export ban imposed by the Indian government in a ...

Source: Oilworld