The rice industry is aiming to increase its exports to $10 billion in the next five years. This goal is driven by a consistent growth in the amount of rice available for export and an increase in the amount of rice produced per acre. According to data, it’s expected that rice exports in 2023 could be around 4.5 million tonnes, bringing in $2.5 billion.
The record-breaking production of 9 million tonnes is a result of favorable weather conditions, the resilience of farmers, the availability of water and fertilizer, and the exploration of new markets. Pakistan’s higher Basmati rice production, especially the premium C1121 variety, provides a unique opportunity to offer high-quality rice at a more competitive price compared to India. The plan for rice exports is to reach $5 billion by 2025 and further increase to $10 billion by 2028.
