ISLAMABAD, 19th March, 2024 (WAM) -- Pakistan's rice exports have witnessed a significant surge in the first eight months of the current financial year (FY) 2023-24, according to data from the Pakistan Bureau of Statistics (PBS). Exports grew by a remarkable 85.83 percent compared to the corresponding period last year, the Associated Press of Pakistan (APP) reported.
During the July-February period, Pakistan exported over 3.932 million metric tonnes of rice valued at $2.517 billion. This is a significant increase from the 2.546 million metric tonnes worth $1.354 billion exported in the same period last year, reported the Associated Press of Pakistan (APP).
Basmati rice exports also experienced growth, at a slower pace than overall exports. The country exported over 472,135 metric tonnes of Basmati rice worth $539.428 million in the first eight months, reflecting a 38.43 percent increase compared to the previous year's figures of 366,210 metric tonnes valued at $386.882 million.
Exports of non-Basmati rice varieties played a major role in the overall growth. Pakistan earned $2.180 billion from exporting approximately 3.460 million metric tonnes of these varieties, compared to $967.872 million earned from 2.180 million metric tonnes in the same period last year.
The positive trend continued on a month-on-month basis as well. Rice exports in February 2024 reached 609,295 metric tonnes valued at $402.043 million, a 48.18 percent increase compared to February 2023's exports of 564,206 metric tonnes worth $271.312 million.
This surge in rice exports is part of a broader trend in the food group. The report also highlights a 54.05 percent increase in overall food group exports from Pakistan during the first eight months of FY 2023-24 compared to the same period last year.
This data suggests a positive outlook for Pakistan's agricultural exports, with rice playing a leading role in driving growth.