- Pakistan's rice exports to the region increase by about 59 percent to $420 million in April.
The lockdowns imposed by India proved beneficial for Pakistan, as the country rice exports to the Middle East region rose significantly.
As per details, Pakistan rice exports to the region increase by about 59 percent to $420 million in April, amid lockdowns imposed by India in order to curb the spread of coronavirus.
“The Middle East is the main market of India’s basmati rice,” Muhammad Raza, senior vice chairman of the Rice Exporters’ Association of Pakistan (REAP), quoted Arab News. “When New Delhi decided to impose the lockdown, the orders were diverted to Pakistan.”
The development comes amid Pakistan’s exports on month-on-month (MoM) basis have witnessed a massive decline of 47.24 percent, from $1.814 billion to $957 million, during April 2020 against March 2020, Pakistan Bureau of Statistic (PBS) said.
According to PBS, the country's imports during the period also witnessed a decline of 6.88 percent from $3.316 billion to $3.088 billion. Meanwhile, The country's balance of trade during April-March 2020, also witnessed a decline of 41.88 percent, from $1.502 billion to $2.131 billion, the PBS said.