AIRLINK 66.80 Increased By ▲ 2.21 (3.42%)
BOP 5.67 Increased By ▲ 0.07 (1.25%)
CNERGY 4.63 Decreased By ▼ -0.09 (-1.91%)
DFML 22.32 Increased By ▲ 1.56 (7.51%)
DGKC 69.76 Decreased By ▼ -1.64 (-2.3%)
FCCL 19.62 Decreased By ▼ -0.33 (-1.65%)
FFBL 30.20 Decreased By ▼ -0.25 (-0.82%)
FFL 9.90 Decreased By ▼ -0.15 (-1.49%)
GGL 10.05 No Change ▼ 0.00 (0%)
HBL 115.70 Increased By ▲ 4.70 (4.23%)
HUBC 130.51 Decreased By ▼ -0.33 (-0.25%)
HUMNL 6.74 Decreased By ▼ -0.11 (-1.61%)
KEL 4.35 Decreased By ▼ -0.04 (-0.91%)
KOSM 4.80 Increased By ▲ 0.46 (10.6%)
MLCF 37.19 Decreased By ▼ -0.56 (-1.48%)
OGDC 133.55 Decreased By ▼ -0.30 (-0.22%)
PAEL 22.60 Increased By ▲ 0.03 (0.13%)
PIAA 26.70 Decreased By ▼ -0.85 (-3.09%)
PIBTL 6.25 Decreased By ▼ -0.06 (-0.95%)
PPL 113.95 Decreased By ▼ -1.00 (-0.87%)
PRL 27.15 Decreased By ▼ -0.07 (-0.26%)
PTC 16.13 Decreased By ▼ -0.37 (-2.24%)
SEARL 59.70 Decreased By ▼ -1.00 (-1.65%)
SNGP 66.50 Increased By ▲ 1.35 (2.07%)
SSGC 11.21 Decreased By ▼ -0.14 (-1.23%)
TELE 8.94 Decreased By ▼ -0.03 (-0.33%)
TPLP 11.34 Increased By ▲ 0.09 (0.8%)
TRG 69.36 Increased By ▲ 0.31 (0.45%)
UNITY 23.45 Increased By ▲ 0.01 (0.04%)
WTL 1.36 Decreased By ▼ -0.03 (-2.16%)
BR100 7,312 Decreased By -12.8 (-0.17%)
BR30 24,106 Increased By 48.2 (0.2%)
KSE100 70,484 Decreased By -60.9 (-0.09%)
KSE30 23,203 Increased By 11.5 (0.05%)

LAHORE: Pakistan’s rice export registered collectively (basmati & non-basmati) around a 30 percent decline in quantity and almost 11 percent decline in value during the period of July-November 2022 as compared to the corresponding period of July-November 2021.

“Pakistan registered quantity wise 44 percent decline in export of basmati rice during the period of July-November 22 as compared to the corresponding period.

While value was the commodity registered a decline of 22 percent in the same category and the same period. Similarly, non-basmati varieties registered a quantity-wise decline of 12 percent and five percent in value in the same period,” said Senior Vice-Chairman of the Rice Exporters Association of Pakistan (REAP) Haseeb Khan.

Talking to the Business Recorder on Thursday Haseeb said export was hit hard due to a 40 percent decline in long grain (non-basmati) crops in Sindh due to unprecedented recent floods, every increasing value of the greenback against the Pak rupee coupled with a huge gap between its value in the interbank against the open market rates. Likewise, basmati rice which is surplus in Punjab is being hoarded by the stockiest pushing the prices skyrocketing for the commodity.

He stated that during the period mentioned above Pakistan exported 210,184 metric tons of basmati rice (July-November 2022) against the export of 302,771 metric tons in the same period of the corresponding year 2021.

While Pakistan exported 1.1 million tons of non-basmati rice during the period July-November 2022 against 1.235 million tons in the corresponding period of 2021.

Haseeb is officiating as Acting Chairman in place of Chela Ram who is abroad, further said that Pakistan had made very good export in the year 2021-2022 as it surpassed the mark of US 2.5 billion dollars after long time. However, he was a bit concerned that they might not be able to repeat that performance this year though would put in their best efforts.

He also said that high electricity rates being charged on the rice mills as compared to other export-oriented sectors was also walloping them as it increases their cost of production which coupled with higher prices of paddy rendered Pakistani exporters uncompetitive in the international market.

He said the government should give the status of industry to this neglected sector which was earning heavy foreign exchange for the country after textiles.

He said they had been demanding the industry sector for their sector for a long but to no avail. He said the rice export sector was not getting any sort of subsidy or rebate from the government nor it had ever demanded it.

Copyright Business Recorder, 2023

Comments

Comments are closed.