Agricultural exports surge to record $6.8bn in July-April

By Shahid Shah

May 12, 2024

In this picture taken on February 23, 2020, officials of the Agriculture Department on a tractor spray pesticides to kill locusts as a farmer works in a field in Pipli Pahar village in Punjab. — AFP/File

KARACHI: Agricultural exports surged to a record $6.8 billion in the first 10 months of the fiscal year 2024, driven by a significant increase in rice and maize exports, sector officials said on Saturday.

Official data showed a substantial increase in exports compared to previous fiscal years, with Pakistan earning $6.822 billion from July 2023 to April 2024, compared to $5.852 billion in 2022-23, $6.368 billion in 2021-22, and $4.948 billion in 2020-21.

The country's agricultural sector has seen a substantial increase in exports, with rice and maize exports reaching $3.7 billion. Sesame seeds have also emerged as a rapidly growing export commodity, with exports reaching $458.7 million.

The export of meat and edible meat offal, worth $429.16 million, highlights the untapped potential of Pakistan's halal meat industry.

Experts suggest that strategic policy changes could position Pakistan among the top halal meat exporters globally.

Other notable sectors contributing to the robust performance include beverages and vinegar ($365.1 million), edible vegetables ($348.4 million), fish and

seafood ($338.1 million), and fresh fruits and nuts ($266.7 million).

Shamsul Islam Khan, a commodities expert, said that the country's agricultural exports are expected to reach $7.5 billion by the end of the fiscal year 2024, driven by growing demand for halal food and increasing exports to China.

"“It’s important to seize opportunities presented by global food market with value-added exports," Khan said. "The government and private sector need to work together to explore new markets and capitalize on emerging opportunities."

He said a sustained investment in value-added production and market diversification will be key to unlocking the full potential of the country's agricultural sector and ensuring long-term economic stability.

“Exporters must focus on value-added exports and the foreign missions gear up to reach door to door for marketing of Pakistani produces and Made in Pakistan products,” Khan added.

The surge in agricultural exports has also led to an increase in Pakistan's overall exports, which reached $25.28 billion in the first 10 months of the fiscal year 2024, a gain of over 9 percent from the same period last year.