Sunday, July 14, 2024

Pakistan’s Rice Exports Hit Historic High of $3.88 Billion Last Year

For the very first time, Pakistan’s rice industry has achieved a remarkable milestone by exporting rice worth $3.88 billion. This marks a significant increase of 78% in export value compared to previous periods.

During the fiscal year 2024, Pakistan exported a total of 6 million metric tons of rice, which is a 60% increase in quantity. This surge in exports has been attributed to strategic marketing efforts and the export ban imposed by India, which enabled Pakistan to secure advantageous prices in global markets.

Rafique Suleman, former Chairman of the Rice Exporters Association of Pakistan (REAP), emphasized that Pakistan’s strategic approach to marketing and the geopolitical situation contributed immensely to this achievement.

The export ban from India created a favorable opportunity for Pakistan to expand its market share and enhance its competitiveness in the international rice trade.

This success not only highlights Pakistan’s growing prowess in the rice export market but also underscores the country’s ability to capitalize on global trade dynamics to bolster its agricultural exports. Moving forward, Pakistan aims to sustain this momentum and further strengthen its position as a leading exporter of high-quality rice worldwide.

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