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Increase in Meat Exports comes at a Price

byWalija Ishtiaq
July 27, 2020
in Economy
Reading Time: 1 min read
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Increase in Meat Exports comes at a Price
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Pakistan has seen a whopping increase in its export volumes that have been more than 80,000 tonnes with a revenue generation of $300 million for the first time in 2019-2020. Amidst the pandemic, Pakistan has the potential for its food export to increase.

This could also gauge problems as relying on a single item for export revenues might cause a shortage of it for domestic use which can put a spike on its local prices. It can transform into a vicious cycle of increasing the cost of production thus leading to inflation.

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According to the Pakistan Bureau of Statistics, the price of beef has increased in folds since the past two years i.e. Rs 367/kg in 2018, Rs 412/kg in 2019, and Rs 451/kg in 2020. Similarly, the price of the mutton has also increased from Rs 773/kg in 2018, Rs 860/kg in 2019 to Rs 945/kg in 2020.

These prices are applicable to the mediocre quality of meat and don’t include high-quality meat. The rise in price is due to the substantial demand in the export sector and the need for the hour in such a situation is for policymakers is to control the demand of meat in the foreign market affecting its price range in the local market and then device policies accordingly.

Tags: EconomyFinancelatestMeat ExportNewsPakistantrending
Walija Ishtiaq

Walija Ishtiaq

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