Rice exports jump 48.64pc to $322.8mln in July-Aug

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.