Three million tonnes of rice available for export

[ameer219]

Three million tonnes of rice available for export

ISLAMABAD (September 09 2010): Pakistan will have up to 3 million tonnes of rice available for export this year despite the worst floods in its modern history that damaged nearly 28 percent of the crop, traders said on Wednesday. Floods have affected more than 708,000 hectares (1.7 million acres) of rice out of the total 2.64 million hectares, according to government estimates. Production losses are feared at around two million tonnes.

The government had set an output target of 6 million tonnes from the 2010/11 crop. The country consumes about 2.2 million tonnes annually and is the world's fifth largest exporter of the grain. "The damage assessment is still ongoing, but even in the worst case scenario, we will have an output of between 4 million and 4.5 million tonnes," Malik Muhammad Jahangir, chairman of the Rice Exporters Association of Pakistan, told Reuters. "The situation is not so bad, as we have stocks from the previous crop also. I think we can still export between 2.5 million and 3 million tonnes."

Pakistan has about half a million tonnes of milled rice from the previous crop and mainly exports long grain Basmati rice to the Middle East, Europe and Asia. A US Department of Agriculture attache report, issued on August 31, revised rice production estimates for Pakistan to 4.4 million tonnes from the 2010/11 crop. The attache report, which is not official USDA data, likewise reduced Pakistan's rice exports for 2010/11 to an estimated 2.3 million tonnes.

Rice is Pakistan's third biggest crop after wheat and cotton and contributes about 1.6 percent to the country's gross domestic product. Pakistan had a bumper crop of 6.7 million tonnes of milled rice in 2009/10 and exported about 4.5 million tonnes, traders say. "Despite floods damage, we will be having a surplus of up to 3 million tonnes that has to be exported as it cannot be consumed here," said Muhammad Azhar Akhtar, former REAP president and owner of Mazco Industries (pvt) Ltd.

Copyright Reuters, 2010
Business Recorder [Pakistan's First Financial Daily]

 

[Aeon]

Pakistan to export rice worth $2 billion this year
LAHORE 26th September 2010

Despite a short fall of about 1.5 million tons in rice production due to devastating floods, Pakistan will be able to export rice worth $2 billion during FY 2010-2011.

Former Chairman Rice Exporters Association of Pakistan (Reap) and a prominent rice exporter, Azhar Akhtar, told Business Recorder on Saturday that Pakistan has about 0.8 million tons of milled rice worth $800 millions as a carryover of the previous crop.

He said the demand of Pakistan’s superior quality basmati rice is picking up in the international market at a rate of $1050 to $1100 per ton.

Akhtar said though the unprecedented floods have damaged rice over 7,08,000 hectares area out of the total of 2.64 million hectors, especially in Sindh, yet Pakistan is likely to produce about 5 millions tons of basmati and other rice varieties this season against the target of 6 million tons of rice.

The country consumes about 2.2 million tons annually and exports the surplus quantity of rice.

President Basmati Growers Association Hamid Malhi said that rice crop was badly damaged in South Punjab and Sindh in the recent floods, yet the farmers of central and northern Punjab are likely to harvest a bumper rice crop this year.

He said the farmers have started harvesting of non-basmati rice whereas harvesting of the basmati rice will start in November. He estimated that Pakistan would have a surplus of more than 3 million tons exportable rice during 2010-2011.

It may be mentioned here that rice is Pakistan’s third biggest crop after wheat and cotton and contributes about 1.6 percent to the gross domestic product.

The country had a bumper crop of 6.7 million tons of milled rice in 2009-10 and exported about 4.5 million tons.