Rice exports jump 29 percent at the end of 3rd quarter FY ‘18

Rice exports from Pakistan have seen sizeable growth of overall 29% at the end of 3rd Quarter of current fiscal year 2017-2018. This statement was given by Mr. Rafique Suleman, Senior Vice Chairman, Rice Exporters Association of Pakistan (REAP), while talking with news reporters.

He shared the figures of rice exports during the period of July to March 2018. He said that at the end of March 2018, rice exports for fiscal year 2017-18 (July to Mar 2018) a significant growth of 29% has been observed as compared to Last fiscal year 2016-17 (July to Mar 2017).

He said that this year we exported Total 2.95 Million Metric Tons of rice amounting to US$. 1.412 Billion, whereas last fiscal year in the same period we had exported 2.53 Million Metric Tons of rice amounting to US$.1.09 Billion, which shows over all a significant growth of 29% in terms values and 16% in terms of quantity.

He expressed his pleasure to inform the media persons that by the grace of Almighty Allah, we have come out of the crisis which we have been observing since last three years. Further with the coordination of REAP Office Bearers with Trade Development Authority of Pakistan and Customs, value of rice export trade is showing improvement which is a good sign for our country. Further, REAP members are putting their untiring efforts and aggressive marketing to increase the rice exports and to earn valuable foreign exchange for our beloved country Pakistan.

He informed that REAP is sending trade delegation to various countries for the forceful marketing of Pakistani rice. In this regard, a delegation is currently on a visit to Iran, which is very lucrative and potential market for Basmati rice. Few years back Pakistan was exporting huge quantity of rice to Iran, however, since last year, we can only export up to one lac tons of rice.

He added that Kenya is the largest buyer of Pakistani Non-Basmati rice and during Nine months of this fiscal year (July to Mar 2018) we have exported 342,000 Metric Tons of rice amounting to US$ 122 Million. He also said that China is the 2nd largest destination for Pakistani Non-Basmati rice. As at the end of March 2018, we have exported 270,000 Metric tons of rice valuing US$ 99 Million.

He briefed that right now international demand for rice has been increased around the globe. He was happy to inform that this year we had a very good crop in terms of quality and quantity. Further, prices of Pakistani rice are comparatively cheaper than our competitors, Thailand, Vietnam etc. which is also in our favor.

He added that Pakistani rice exporters are putting their extra ordinary efforts for fetching valuable foreign exchange for the growth of economy of our beloved country and making huge investment for installing world’s latest rice machinery and most modern technology for value addition in rice.

He expressed with pleasure that recently Indonesian state own body, BULOG has floated a tender for the procurement of rice and (8) Pakistani rice exporters were successful to supply 50,000 Metric Tons and in result we will be able to fetch approx.US$ 22.625 Million valuable foreign exchange for our beloved country Pakistan

He further informed that Indian rice is being banned by EU countries due to the excess limit of pesticide residue and Pakistani rice exporters are taking advantage of this and hopefully export of Pakistani Brown rice will be increased with remarkable ratio.

Posted on: 2018-04-10T17:40:00+05:00