(Web Desk) – Rice exports from Pakistan have seen sizeable growth of overall 27% in the 10 months of current fiscal year 2017-2018.
In a statement issued on Thursday, Rice Exporters Association of Pakistan (REAP) Senior Vice Chairman Rafique Suleman shared the figures of rice exports during the period of July to April 2018.
He said that at the end of April 2018, rice exports for fiscal year 2017-18 (July to Apr2018) a significant growth of 27pc has been observed as compared to Last fiscal year 2016-17 (July to April 2017).
“This year we exported total 3.228 million metric tons of rice amounting to US$1.573 billion,” he said whereas last fiscal year in the same period we had exported 2.8 million metric tons of rice amounting to US$1.23 billion, which shows over all a significant growth of 27% in terms values and 15% in terms of quantity.
Rafique Suleman was pleased to inform 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 valueable foreign exchange for our beloved country Pakistan.
He further said that Pakistani rice exporters have been putting their extra ordinary efforts for fetching valueable 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.
In this regard, recently, REAP has organized its 10th Export Trophy Awards, in which President Mamnoon Hussain has awarded Best Exporters awards to many rice exporters to recognize the excellent services of their performance towards the growth of country’s economy.
The REAP vice chairman informed that association was sending trade delegation to various countries for the forceful marketing of Pakistani rice. In this regard, last month a delegation has arrived after the successful 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 upto 100,000 tons of rice. After their meetings with many government authorities, Government Trading Corporation (GTC) has issued tenders for 20,000 Metric tons of Basmati Rice, in which many Pakistani rice exporting companies will participate and we are hopeful that a handsome amount of foreign exchange will be fetched by Pakistani rice exporters.
Suleman added that China is one of the largest importer of Pakistani Non-Basmati rice. As at the end of April 2018, we have exported 274,000 Metric tons of rice valuing US$ 100 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 favour.