Pakistan’s rice exports surge 19% in first half of FY25, projected to hit $4.5bn
Pakistan’s rice exports saw a 19% increase in the first half of the fiscal year 2024, with 3.06 million tons exported, valued at $1.87 billion. Basmati rice exports surged by 30.4%, while non-Basmati exports grew by 17.2%. Despite global trade disruptions and competition from India, Pakistan’s high-quality aromatic Basmati rice maintained strong demand. Exporters project reaching $4.5 billion by FY25, with key markets including Kenya, Malaysia, and Indonesia.
Pakistan’s rice exports recorded a remarkable 19% growth during the first half of the current fiscal year, despite global trade disruptions and stiff competition from regional players.
From July to December 2024, the country exported 3.06 million tons of rice worth $1.87 billion, compared to 2.57 million tons valued at $1.64 billion in the same period last year, according to official data.
Basmati rice exports saw an impressive 30.4% increase, reaching 416,491 tons worth $433.81 million, up from 367,465 tons valued at $318.85 million. Non-Basmati rice exports rose by 17.2% to 2.65 million tons, generating $1.44 billion compared to 2.25 million tons worth $1.27 billion in 2023.
The surge in exports came despite challenges such as the Red Sea conflict, which disrupted trade routes and increased shipping costs.
India’s lifting of its rice export ban and removal of its minimum export price cap, combined with the rupee’s massive devaluation, intensified competition in global markets. However, Pakistan’s premium-quality aromatic Basmati rice retained strong international demand.
Exporters project rice exports could reach $4.5 billion by the end of FY25, driven by favorable planting conditions and adequate irrigation during the growing season.
A former chairman of the Rice Exporters Association of Pakistan (REAP) highlighted Pakistan’s focus on quality and its ability to counter unfair trade practices, such as India’s alleged violations of World Trade Organization (WTO) agreements. He noted that recent agreements, including one between Pakistan’s Trading Corporation and Bangladesh’s Directorate General of Food for Basmati exports, would further boost growth.
Plans to establish an analytical laboratory for scientific assessment of residue levels in rice could further enhance the commodity’s standards and appeal. Currently, Pakistan’s rice enjoys strong demand in key markets such as Kenya, Malaysia, and Indonesia, with exporters exploring opportunities in Africa and other regions.
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Source : Profit Pakistan Today
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