LAHORE – Rice exports have surpassed $1 billion mark during the first seven months of the current fiscal year 2010-11. Figures released by Rice Exporters Association of Pakistan (REAP) have revealed that between July 2010 to January 2011, rice exporters have exported 2.08 million tonnes of rice worth $1.14 billion, while Pakistan exported rice worth $1.18 billion during the same period of 2009-10.
However, figures indicate that rice exports have witnessed a decline in term of quantity during the period under review. Figures show that Pakistan had exported 2.39 million tonnes of rice during the same period in 2009-10. REAP Chairman Irfan Ahmad Sheikh said owing to the impact of devastating floods; the standing crops of non-Basmati varieties have faced extensive damage in Sindh.
However, he pointed out that due to a better price in the international market, the trade of rice had not been adversely affected. He underlined that Pakistani rice exporters were conducting huge investments, installing latest rice processing equipment.
He said that despite tough competition in international markets, rice exporters were performing well and garnering valuable foreign exchange for the country. The government was called upon to resolve the issues in the rice industry, including issues pertaining to the central bank and energy shortage.
