Pakistan can earn $3bn from rice exports in FY24

News Image

MG News | August 02, 2023 at 10:11 AM GMT+05:00

0:00

August 02, 2023 (MLN): The demand for Pakistani rice has significantly risen worldwide amid the recent decision of the Indian government to impose a ban on the export of non-basmati rice.

Chela Ram, Chairman of the Rice Exporters Association, stated that Pakistan could export rice worth $3 billion in the upcoming fiscal year 2024.

To recall, exports in FY23 saw 3.7 million tons of rice, worth $2.14bn.

Chela Ram said that exports of rice can reach 5m tons in FY24.

Furthermore, the rice output in FY24 is projected to reach a record 9m tons, providing a substantial surplus for export purposes.

Moreover, the Russian Federation has taken steps to open its doors to Pakistani rice, registering an additional 15 companies for rice export to Russia.

12 more companies are currently in the registration process, indicating the increasing demand for Pakistani rice in the Russian market.

Chela Ram also expressed optimism about the ongoing talks with Mexico, paving the way for potential positive developments in trade between the two countries.

With Mexico's concerns addressed, there are encouraging signs that the ban on Pakistani rice exports to Mexico may be lifted soon, offering a significant boost to Pakistan's rice industry.

These positive developments paint a promising picture for Pakistan's rice exporters in FY24.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 165,686.38
893.80M
0.13%
210.36
ALLSHR 100,785.80
1,526.08M
0.46%
459.02
KSE30 50,923.16
299.51M
-0.22%
-111.60
KMI30 241,650.72
154.62M
-0.57%
-1387.78
KMIALLSHR 66,592.55
833.69M
0.23%
155.08
BKTi 47,014.51
175.18M
0.84%
391.18
OGTi 32,380.15
31.25M
-0.28%
-91.97
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 111,195.00 111,260.00
111,080.00
-355.00
-0.32%
BRENT CRUDE 62.47 63.04
61.79
0.08
0.13%
RICHARDS BAY COAL MONTHLY 80.50 0.00
0.00
0.00
0.00%
ROTTERDAM COAL MONTHLY 91.50 91.50
89.30
2.45
2.75%
USD RBD PALM OLEIN 1,085.00 1,085.00
1,085.00
0.00
0.00%
CRUDE OIL - WTI 58.84 58.84
58.75
0.57
0.98%
SUGAR #11 WORLD 15.67 15.91
15.53
-0.21
-1.32%

Chart of the Day


Latest News
October 15, 2025 at 05:02 PM GMT+05:00

Pakistan, UAE reaffirm commitment to strengthening trade


October 15, 2025 at 04:57 PM GMT+05:00

Pakistan, Egypt deepen maritime ties to boost trade


October 15, 2025 at 04:24 PM GMT+05:00

Bestway Cement profit surges 35% to Rs5.5bn in 1QFY25


October 15, 2025 at 04:20 PM GMT+05:00

CCP cracks down on mercury-contaminated whitening creams



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg