Govt optimistic to achieve Rice export target with $3 b earnings | Pakistan Today

Govt optimistic to achieve Rice export target with $3 b earnings

The government is optimistic to achieve the Rice export target of 4 million tons with estimated foreign exchange earnings of $ 3 billion in current financial year ending June 30,2012.
In the first 9 months (July-March) of on going financial year the country exported 3.025 million tons Rice out of which 0.7 million tones Basmati and 2.3 million tones coarse rice have been exported.
According to an official, during fiscal year 2011-12 the production of rice was recorded as 6,160 thousand tones compared to 4,823 thousand tones for the year 2010-11. This better performance may be attributed to 8.7 per cent increase in area, favorable weather conditions, and better seed availability. Pakistan usually exports 2/3rd of its production.
According to Rice Exporters Association of Pakistan the rice export target set for current fiscal year will be achieved with its estimated foreign exchange earnings of US $ 3 billion. For the coming year, a production target of 6.9 million tones has been fixed and Pakistan usually exports 2/3rd of its production.



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