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Pakistan's rice exports (basmati and non-basmati) have declined by nearly 30 percent in volume in the first five months of fiscal 2022-23 compared to the same period in fiscal 2021-22. As a result, prices recorded a decline of about 11 percent.
Pakistan registered a quantity-wise 44pc decline in the export of basmati rice during the period of July-November 2022 as compared to the corresponding period.
Similarly, non-basmati varieties registered a quantity-wise decline of 12pc and 5pc in value in the same period.
According to the Rice Exporters Association of Pakistan (REAP), rice export was hit hard owing to a 40pc decline in long grain (non-basmati) crops in Sindh due to unprecedented recent floods, every increasing value of the greenback against the Pak rupee coupled with a huge gap between its value in the interbank against the open market rates.
Likewise, basmati rice which is surplus in Punjab is being hoarded by the stockiest pushing the prices skyrocketing for the commodity.
During the period mentioned above, Pakistan exported 210,184 metric tons of basmati rice (July-November 2022) against the export of 302,771 metric tons in the same period of the corresponding year 2021.
Pakistan exported 1.1 million tons of non-basmati rice during the period July-Nov 2022 against 1.235 million tons in the corresponding period of 2021.
Source:
Online/KSU
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