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Rice export outlook

Rice plays multifarious roles in Pakistan's agrarian economy. Rice is not considered as subsistence crop in Pakistan as compared to the other South and Southeast Asian Countries. It is a cash crop of Pakistan. Rice is the 3rd largest crop in terms of area after wheat and cotton. Rice account for 11% of the total cropped area and 20% of acreage under cereal crops in the country. The share of rice in the value of export of major agricultural commodities is nearly 9%.

Pakistani Basmati Rice is very famous in the world for its aroma and taste. We have the heritage of Basmati in our Punjab province, which is one of the most fertile lands in the world, growing finest pure Basmati Rice varieties as well as produces a course variety named as KS-282, which is equivalent to any finest grade Thai Rice. In Sindh province, we are having world's renowned Long Grain Rice of IRRI-6, IRRI-9, and also Super Basmati Rice is grown in Sindh.

Rice production in Pakistan during last three years is around 6.0 Million tones. Pakistani Basmati and Non-Basmati Rice is being exported to more than 100 countries of the world, which has worth of approx. US $2 Billion per annum.

Given below are the Rice Export Figures of last (3) years:

I salute REAP members for their remarkable performance despite tough competition in international markets; they have made it possible to achieve a historic mile stone, which will be an example for our future trade players. The driving force behind this tremendous leap is the privatisation of rice trade, in a very short span of time of a decade; we have increased the country's rice exports from mere US $300 Million to $2.2 Billion. I have given a target to REAP members as "VISION 2015", under which we intend to achieve US $4.0 Billion at the end of year 2015.

REAP members have put huge investment in upgrading their infrastructure by adopting latest technologies and installing world's modern rice plants in their Rice Mills and as a result of such efforts, we are standing among Top-5 Largest Rice Exporting Country despite the fact that Pakistan is 12th Largest Rice Producing Country.

As compared to the other rice exporting countries, REAP is like a new born baby, which was registered as a sole representative of Rice Exporters in 1999 and at that time the annual export of rice from Pakistan were just US.$.300 Million and soon after when I completed my 2nd tenure as the Chairman REAP in 2009, Pakistan has crossed US $2 Billion and I believe no other sector has shown such excellent performance in the history of Pakistan

Another key factor for this tremendous performance of Pakistan is aggressive marketing and trade delegations to various countries of the world. REAP has sent many trade delegations to leading Rice Importing countries, such as Saudi Arabia, South Africa, Iran, European Countries, Canada, East & West African Countries, China India, Mauritius, Madagascar & Comoros and acquired great achievements.

REAP also has a very active back ground in social and welfare activities. In my 1st tenure as Chairman REAP in 2001-03, we have started sending our employees to perform Hajj on the REAP's expenses. Further REAP has contributed a very active participation at the time of any national disastrous situation and played its role and besides this, many REAP members were engaged in the relief activities.

Copyright Business Recorder, 2014


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln