ISLAMABAD: Country’s rice exports in the first two months of the current financial year jumped 48.64 percent over the same period last year, on a strong demand for varieties other than basmati, latest figures showed on Saturday.
Data released by Pakistan Bureau of Statistics (PBS) presented that 590,053 tons of rice, valuing $322.836 million, was exported in July-August 2019, as compared to 399,633 tons sold overseas for $223.918 million in the corresponding period last year. During the period under review, country earned $135.249 million by exporting about 148,772 tons of basmati rice as against $101.851 million fetched by exporting 99,287 tons of the same variety in the same period a year ago, an increase of 32.79 percent.
The exports of other rice varieties grew 61.87 percent as about 441,281 tons of this food grain other than basmati, valuing $197.587, was sent abroad as against the exports of 300,346 tons earning $122.067 million in the same period last year.
During the period, 16,652 metric tons of fish and fish preparations, valuing $36 million were exported along with 13,150 metric tons of meat and meat products worth $48.174 million.
The PBS data further revealed that food exports rose 14.27 percent year-on-year to $650.257 million in the July-August period due to significant 48.64 percent growth in rice exports.
Except wheat, sugar and oil seeds, all other exports under the food group increased during the July-August period.
Wheat exports tapered off 78.28 percent to $10.590 million as the government continued to slap ban on exports of wheat and wheat flour to control price hike in the country.
Sugar exports also fell 66.03 percent to $17.352 million during the period under review. Leather sector’s exports increased 5.88 percent to $90.543 million in the July-August period.
Pakistan’s trade deficit sharply narrowed 35.86 percent year-on-year to $3.924 billion in the first two months of the current fiscal year of 2019/20 as imports considerably decreased on regulatory measures and slowdown in oil shipments, but exports slightly increased during the period.
Chinese power company had intended to acquire up to 18.336 billion ordinary shares of K-Electric, representing 66.4...
MARI also successfully drilled and tested another appraisal well in the Mari Ghazij formation located in Mari D&PL
Gold rates decreased by $30 to $2,381 per ounce in the international market
Growing number of Americans have seen their savings dwindle as rising prices squeeze budgets while interest rates stay...
IMF will closely watch the privatization of PIA by the end of June
PSX lays down the groundwork to encourage listed companies to adopt ESG reporting in line with global standards
