Rice exports up 14 percent in eight months

KARACHI: Rice exports from Pakistan have seen sizeable growth of 14 percent in quantity and 27 percent in value during the eight months of the current fiscal year; July 2017-February 2018, Rafique Suleman, senior vice chairman, Rice Exporters Association of Pakistan (REAP) said on Friday.

Sharing the figures, Suleman said this year they exported 2.59 million tons amounting to $1.224 billion, whereas last fiscal year in the same period 2.27 million tons amounting to $.961 million were exported, which shows a growth of 27 percent in value terms and 14 percent in terms of quantity.

He said they had come out of the crisis, which was observed in the last three years.

Due to the coordination of REAP office bearers with Trade Development Authority of Pakistan and Customs, he said, value of rice export trade was showing improvement which was a good sign for the country.

The senior vice chairman said last month REAP had organised International Buyers Recognition Awards in Dubai, and as a result they observed that rice exports to UAE showed good growth. In eight months of the current fiscal year, more than 100,000 tons of rice amounting to $67 million were exported to UAE.

Kenya is the largest buyer of Pakistani non-Basmati rice and during eight months of this fiscal year, 323,000 tons of rice, amounting to $118 million, were exported to Kenya.

China came out as the second largest destination for Pakistani non-basmati rice, as 233,000 tons valuing $83 million were exported to the country.

He expressed his gratitude to authorities of Ministry of Commerce for obtaining more benefits for Pakistani rice in the recent negotiations during the 2nd round of Pakistan-China Free Trade Agreement which will result into substantial growth in rice exports to China.

Rafique Suleman said the international demand for rice has increased around the globe. He was happy to inform that this year the country had a very good crop in terms of quality and quantity. “Further, prices of Pakistani rice are comparatively cheaper than our competitors, Thailand, Vietnam etc, which is also in our favour,” he said.

Pakistani rice exporters were putting in efforts for fetching valuable foreign exchange for the growth of the economy, he said, and added that they were making a huge investment for installing the world’s latest rice machinery and most modern technology for value-addition in the commodity.