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Pakistan rice exports jumps
ISLAMABAD: Pakistans rice exports jumped 50 percent to 4.5 million tonnes in the year till June, after a strategy to keep prices low helped raise demand in African and Gulf countries, a top industry official said on Monday. The lack of government intervention in the rice business and a continuing Indian ban on the export of non-basmati rice also contributed to rise in Pakistans exports, which totaled 3 million tonnes in the 2008-09 (July-June) financial year, traders say.
Our rice exports this year have been exceptionally good. By the end of June, our exports will touch the 4.5 million tonnes mark, the chairman of the private Rice Exporters Association of Pakistan, Malik Mohammad Jehangir, told Reuters. We had a new strategy to keep our prices lower by $10-12 a tonne as compared to others to increase volume and that worked, said Jehangir whose organisation handles the bulk of the rice exports. According to the official statistics bureau, Pakistan exported 3.65 million tonnes of all types of rice in the first 10 months of the year to April, more than 66 percent increase over rice exports in the same period last year. Out of the total exports, Pakistan exported about 800,000 tonnes of basmati rice through April, compared with more than 774,119 tonnes over the same period last year. Exports of non-basmati rice rose more than 100 percent to 2.86 million tonnes in the same period. Official export figures for May are not available.
South Africa, Saudi Arabia and Dubai were the main buyers, while Pakistan was also able to sell more rice this year to Bangladesh and Sri Lanka, Jehangir said. Thailand and Vietnam were Pakistans main rivals in the non-basmati category as India forbids the export of most varieties of rice to help tame high domestic food inflation. Pakistan and India compete in the export of basmati rice.
Daily Times - Leading News Resource of Pakistan
ISLAMABAD: Pakistans rice exports jumped 50 percent to 4.5 million tonnes in the year till June, after a strategy to keep prices low helped raise demand in African and Gulf countries, a top industry official said on Monday. The lack of government intervention in the rice business and a continuing Indian ban on the export of non-basmati rice also contributed to rise in Pakistans exports, which totaled 3 million tonnes in the 2008-09 (July-June) financial year, traders say.
Our rice exports this year have been exceptionally good. By the end of June, our exports will touch the 4.5 million tonnes mark, the chairman of the private Rice Exporters Association of Pakistan, Malik Mohammad Jehangir, told Reuters. We had a new strategy to keep our prices lower by $10-12 a tonne as compared to others to increase volume and that worked, said Jehangir whose organisation handles the bulk of the rice exports. According to the official statistics bureau, Pakistan exported 3.65 million tonnes of all types of rice in the first 10 months of the year to April, more than 66 percent increase over rice exports in the same period last year. Out of the total exports, Pakistan exported about 800,000 tonnes of basmati rice through April, compared with more than 774,119 tonnes over the same period last year. Exports of non-basmati rice rose more than 100 percent to 2.86 million tonnes in the same period. Official export figures for May are not available.
South Africa, Saudi Arabia and Dubai were the main buyers, while Pakistan was also able to sell more rice this year to Bangladesh and Sri Lanka, Jehangir said. Thailand and Vietnam were Pakistans main rivals in the non-basmati category as India forbids the export of most varieties of rice to help tame high domestic food inflation. Pakistan and India compete in the export of basmati rice.
Daily Times - Leading News Resource of Pakistan
