Rice exports up 39pc to 1.6mln tons in 5 months

ISLAMABAD: Rice exports increased 38.58 percent in the first five months of the current fiscal year compared to the corresponding period last fiscal, mainly owing to a strong demand for Pakistan’s high-quality grains, latest data showed.

Pakistan Bureau of Statistics (PBS) stats presented that over 1.601 million tons of rice ($835.686 million) were exported in July-November period of FY2020, as against 1.115 million tons ($603.149 million) in the same period a year ago.

Basmati rice exports increased 61.47 percent to 343,885 tons during the period under review compared to 190,997 tons ($193.855 million) in the July-November FY2019.

The country exported about 1.257 million tons ($522.846 million) of other varieties of rice, as against 964,539 tons ($409.294 million) in the same period last fiscal.

On a month-on-month basis, rice exports increased 24.49 percent in November 2019 to 440,488 tons ($202.069 million), compared to 355,488 tons ($162.321 million) sold overseas in the same month of 2018.

In November 2019, basmati rice exports also grew 24.49 percent as 58,421 metric tons ($54.522 million) were exported, against 29,185 tons ($28.504 million) in November last.

The food group exports during first five months of this fiscal increased 16.20 percent over the corresponding period of the last year.

Food commodities worth $1.757 billion were exported in July-November FY2020 period as against $1.512 billion in the same period of FY2019.

On the other hand, import of food commodities during the period under review decreased 15.36 percent to $2.088 billion, as compared to $2.467 billion in the same time last year.

Food group exports grew 16.30 percent month-on-month as products worth $397.708 million were exported in November this year against $341.975 million in the same month of 2018.

However, on a month-on-month basis, imports in November 2019 increased 5.14 percent to $505.503 million as against $480.775 million, same month last year.