Exports Of Basmati Rice Up By 5.25 %, Others 2.85% In First Months Of FY 2018-19
Fahad Shabbir (@FahadShabbir) Published August 27, 2018 | 03:50 PM
Rice exports from the country during first month of current financial year grew by 2.85 percent as compared the corresponding month of last year and about 212,518 metric tons of rice worth US$ 110.966 million exported as against the exports of 190,455 metric tons valuing US$ 107.893 million of same period of last year.
ISLAMABAD, (UrduPoint / Pakistan Point News - 27th Aug, 2018 ) :Rice exports from the country during first month of current financial year grew by 2.85 percent as compared the corresponding month of last year and about 212,518 metric tons of rice worth US$ 110.966 million exported as against the exports of 190,455 metric tons valuing US$ 107.893 million of same period of last year.
During the month of July, 2018, about 37,661 metric tons of basmati rice worth US$ 34.832 million exported as compared the exports of 31,433 metric tons valuing US$ 33.91 million of the corresponding month of last year.
According the data of Pakistan Bureau of Statistics, the exports of above mentioned commodity witnessed about 5.25 percent growth during the period under review.
During the period under review, about 174,857 metric tons of rice other then basmati worth US$ 76.138 million exported during the period under review as against the exports of 159,022 metric tons worth US$ 74.802 million of same period last year, it added.
Meanwhile, commenting on the uptick of the exports of the rice, Chairman Rice Exporters Association of Pakistan (REAP) Samee Ullah Naheem told APP that due to the implementation of international set standards and adoption of phytosanitary measures, the demand of Pakistani rice from Europe and middle Eastern countries including Saudi Arabia had witnessed tremendous growth.
The demand of basmati rice had also increased from other markets of the world as the local rice was unique in its taste and aroma all across the glob and was on high demanded, he remarked and said that the momentum of exports could further be enhanced by paying little attention.
He informed that the exports of rice would further increase as arrangements were in progress with Iran as it is another market have huge potential for the Pakistani rice, adding that rice worth US$ 2 billion were exported during the year 2017-18.
Besides, Pakistan was also finding other potential markets to enhance its exports and introduce its products there to fetch further foreign exchange reserves for the economic development of the country, he observed.
Related Topics
Recent Stories
HEC reviews curricula for environmental sciences degree programme
ICC Asia looking forward to an action-packed Asia Cricket Week
Yuvraj Singh named ICC Men’s T20 World Cup 2024 Ambassador
Greece hands Olympic flame to 2024 Paris Games hosts
Two Kyiv hospitals evacuating over feared Russian strikes
World must act on neurotech revolution, say experts
Charles & Catherine's cancer diagnoses
Champions Alcaraz and Sabalenka through in Madrid Open
King Charles to resume some public duties during cancer treatment: palace
US defense chief announces $6 bn in security aid for Ukraine
Heavy rains cause damage to Spezand-Taftan railway track
Woman stabbed in Israel, attacker killed: police
More Stories From Business
-
Finance minister reviews progress on FBR digitalization
8 hours ago -
US stocks rebound on tech earnings, London hits new record
8 hours ago -
US approves gene therapy treatment for hemophilia
8 hours ago -
KATI president for inclusion of agri sector in tax net
8 hours ago -
Ahsan chairs 13th CPEC-JCC preparatory meeting, reviews arrangements for high-level delegation’s v ..
9 hours ago -
Police to take every step for security of business community: IGP
9 hours ago
-
WB director, Planning minister discuss reforms in development projects
9 hours ago -
IP rights crucial in achieving SDG : Jam Kamal
11 hours ago -
FBR’s data protection efforts commended by OECD assessment team
11 hours ago -
US stocks rebound on tech earnings, London hits new record
11 hours ago -
SECP-IFSB workshop highlights Pakistan's progress in Islamic Finance Development
11 hours ago -
SBP to announce monetary policy on April 29
11 hours ago