• About
  • Advertise
  • Contact
Thursday, August 18, 2022
  • Login
WRITE FOR US
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
No Result
View All Result
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
Economy.pk
Home Business

Rice exports crosses the $2.5 billion mark for the first time in country’s history

bySuneela Zulfiqar
July 21, 2022
in Business, Economy, Main
Reading Time: 2 mins read
0
Rice exports crosses the $2.5 billion mark for the first time in country’s history
873
SHARES
2.8k
VIEWS
Share on FacebookShare on Twitter

Pakistan’s rice exports surged to a record $2.5 billion in the 2021-22 fiscal year, boosted by higher sales of the commodity abroad, data from the Pakistan Bureau of Statistics showed.

The volume of rice exported, both Basmati and non-Basmati varieties, this year was over 4.877 million tonnes, 1.19 million tonnes more than last year’s figure of 3.684 million tonnes.

RelatedPosts

Govt Lifts Import Ban on CKD Car Kits

Good News for Construction Sector as Steel Prices Slashed by Rs. 12,000 Per Ton

Govt to borrow Rs6.8tr from banks

The volume of rice exports increased by 32.35 percent while the value of exports, in U.S. dollars, rose by 23 percent compared to the previous year, according to PBS data.

Basmati rice accounts for more than 0.75m tonnes of export volume and more than $69m in financial terms.

Reap chairman Ali Hussam Asghar stated that lower rice prices in Pakistan as opposed to India at the beginning of the season prompted international buyers to source from Pakistan, thereby driving up export volume.

He said that the lack of containers did pose difficulties, which Reap representatives remedied with the assistance of the Trading Corporation of Pakistan by providing bulk vessels.

He pledged to enhance the supply chain so that rice export volumes could reach $3bn in the next year.

Mr Asghar estimated that Basmati acreage and production were expected to grow in the forthcoming season as farmers had received a reasonable price for their crop during the year ending June 2022.

Prior to last year, rice sector stakeholders had been expressing their worries about the escalating practice of sowing non-Basmati, particularly hybrid rice varieties, even in the Basmati producing belt of the Gujranwala division.

According to rice sector expert Hamid Malik, production has increased from 7.2m tonnes to 8.9m tonnes in the last three years.

Mr Malik said the demand side also remained robust during 2021 and 2022 despite odds like a three-time increase in ocean freight, the non-availability of empty containers and bulk vessels, and restrictions related to the Covid pandemic.

Tags: basmati ricelatestPakistan Bureau of StatisticsRice exports
Suneela Zulfiqar

Suneela Zulfiqar

Related Posts

Govt Lifts Import Ban on CKD Car Kits

Govt Lifts Import Ban on CKD Car Kits

The government has announced that the import ban has been lifted, according to federal Minister of Finance Miftah Ismail. Miftah...

Good News for Construction Sector as Steel Prices Slashed by Rs. 12,000 Per Ton

Good News for Construction Sector as Steel Prices Slashed by Rs. 12,000 Per Ton

Due to a sudden decrease in the price of raw materials in the International market, the domestic prices of steel...

Next Post
PCB to appoint Mohammad Yousuf as permanent batting coach

PCB to appoint Mohammad Yousuf as permanent batting coach

Recommended

Govt Lifts Import Ban on CKD Car Kits

Govt Lifts Import Ban on CKD Car Kits

Good News for Construction Sector as Steel Prices Slashed by Rs. 12,000 Per Ton

Good News for Construction Sector as Steel Prices Slashed by Rs. 12,000 Per Ton

Homeless man, Daughter sell balloons to Pay for Education

Homeless man, daughter sell balloons to Pay for Education

FIFA’s Official Website Removes Israel to Add Palestine in Its List of Countries

FIFA’s Official Website Removes Israel to Add Palestine in Its List of Countries

Govt to borrow Rs6.8tr from banks

Govt to borrow Rs6.8tr from banks

5% tax on manufacturers to be expected

5% tax on manufacturers to be expected

Connect with us

Twitter

Economy.pk

Economy.pk touches diverse topics with a lighter note and is geared toward audiences with various interests and all ages. Come and explore Economy.pk. Ample details and analysis are provided in extraordinarily readable manner making them compelling and interesting at the same time.

Category

  • World
  • Politics
  • Business
  • Technology
  • Education
  • Health
  • Life & Style
  • Opinions

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin

Sitelinks

  • Sitemap

Download our APP

download on android app download on apple app
  • About
  • Advertise
  • Contact

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

  • LATEST
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Canada
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

No Result
View All Result

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In