Shahzaz ud din
SENIOR MEMBER
- Joined
- Jun 12, 2017
- Messages
- 7,877
- Reaction score
- 14
- Country
- Location
Pakistan may receive higher orders for rice export
By Salman Siddiqui
Published: February 6, 2020
TWEET EMAIL
Pakistan’s rice exports increased over 27% in volumetric term to 20.02 million ton and over 26% in dollar-denomination to $1.03 billion in the first half of the current fiscal year ended December 31, 2019. PHOTO: APP
KARACHI: Pakistan is anticipating receiving higher rice export orders as the two leading global consumers and exporters of the grain; China and Thailand, are stuck in different crises these days.
China is currently battling against an outbreak of the coronavirus for around a month now. The Chinese virus, which has spread to over two dozen counties, has taken around 450 lives and affected another 17,000 people around the world. “The virus is feared to impact Chinese rice crop as well,” Rice Exporters Association of Pakistan (REAP) former chairman Rafique Suleman told The Express Tribune.
Thailand, which used to be the single largest exporter of rice, is facing the worst drought of the decade. “The situation is expected to impact Thailand’s rice crop as well,” he said.
The two developments have pushed up rice export price. “We are exporting rice (irri-6 which is widely consumed in the world) at over $370 per ton these days compared to around $350 per ton in December 2019,” he said.
Rice exports stagnant as traders unable to meet SPS conditions
Pakistan is the fifth largest exporter of rice in the world. It exports the grain to around 100 countries around the globe.
Pakistan’s rice exports increased over 27% in volumetric terms to 20.02 million ton and over 26% in dollar-denomination to $1.03 billion in the first half of the current fiscal year ended December 31, 2019 compared to what it exported in the same period of last year, according to the Pakistan Bureau of Statistics (PBS). “The trend shows a notable growth in rice exports in the second half of the ongoing fiscal year as well,” said Suleman.
He said that rice remained a staple crop for China which is the single largest consumer of the grain. It may resort to importing of rice to meet the local requirement as the virus is feared to impact its crop since Beijing has extended the period of ongoing annual holidays to protect people from the virus, Suleman added.
Besides, buyers of Chinese rice in world markets may also consider importing rice from Pakistan as Pakistani rice is known for high quality and the best aroma, he said.
He said that Pakistan is expected to make higher export of rice to Kenya, which is also a big consumer of the grain, after a Pakistani delegation consisting of high officials and rice exporters from private sector met Kenyan government representative about a week ago.
PTI govt intends to lift rice exports to highest-ever level
“We are expected to export around 500,000-ton rice to Kenya this year (FY20) compared to around 380,000 tons last year,” he said.
“Approximately 25% of total Pakistani rice exports go to African countries and Kenya is the single largest buyer of Pakistani rice in the region, whereas other 75% exports go to the rest of the world.”
Pakistan is the tenth largest rice producing country in the world. Its annual rice crop stands in the range of 7-7.5 million ton. “Pakistan is the homeland of world’s best basmati & non-basmati rice,” said Suleman. Currently, rates of rice are increasing in international markets, while Pakistani rice remains a preferred grain in many countries around the globe.
Published in The Express Tribune, February 6th, 2020.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
By Salman Siddiqui
Published: February 6, 2020
TWEET EMAIL
Pakistan’s rice exports increased over 27% in volumetric term to 20.02 million ton and over 26% in dollar-denomination to $1.03 billion in the first half of the current fiscal year ended December 31, 2019. PHOTO: APP
KARACHI: Pakistan is anticipating receiving higher rice export orders as the two leading global consumers and exporters of the grain; China and Thailand, are stuck in different crises these days.
China is currently battling against an outbreak of the coronavirus for around a month now. The Chinese virus, which has spread to over two dozen counties, has taken around 450 lives and affected another 17,000 people around the world. “The virus is feared to impact Chinese rice crop as well,” Rice Exporters Association of Pakistan (REAP) former chairman Rafique Suleman told The Express Tribune.
Thailand, which used to be the single largest exporter of rice, is facing the worst drought of the decade. “The situation is expected to impact Thailand’s rice crop as well,” he said.
The two developments have pushed up rice export price. “We are exporting rice (irri-6 which is widely consumed in the world) at over $370 per ton these days compared to around $350 per ton in December 2019,” he said.
Rice exports stagnant as traders unable to meet SPS conditions
Pakistan is the fifth largest exporter of rice in the world. It exports the grain to around 100 countries around the globe.
Pakistan’s rice exports increased over 27% in volumetric terms to 20.02 million ton and over 26% in dollar-denomination to $1.03 billion in the first half of the current fiscal year ended December 31, 2019 compared to what it exported in the same period of last year, according to the Pakistan Bureau of Statistics (PBS). “The trend shows a notable growth in rice exports in the second half of the ongoing fiscal year as well,” said Suleman.
He said that rice remained a staple crop for China which is the single largest consumer of the grain. It may resort to importing of rice to meet the local requirement as the virus is feared to impact its crop since Beijing has extended the period of ongoing annual holidays to protect people from the virus, Suleman added.
Besides, buyers of Chinese rice in world markets may also consider importing rice from Pakistan as Pakistani rice is known for high quality and the best aroma, he said.
He said that Pakistan is expected to make higher export of rice to Kenya, which is also a big consumer of the grain, after a Pakistani delegation consisting of high officials and rice exporters from private sector met Kenyan government representative about a week ago.
PTI govt intends to lift rice exports to highest-ever level
“We are expected to export around 500,000-ton rice to Kenya this year (FY20) compared to around 380,000 tons last year,” he said.
“Approximately 25% of total Pakistani rice exports go to African countries and Kenya is the single largest buyer of Pakistani rice in the region, whereas other 75% exports go to the rest of the world.”
Pakistan is the tenth largest rice producing country in the world. Its annual rice crop stands in the range of 7-7.5 million ton. “Pakistan is the homeland of world’s best basmati & non-basmati rice,” said Suleman. Currently, rates of rice are increasing in international markets, while Pakistani rice remains a preferred grain in many countries around the globe.
Published in The Express Tribune, February 6th, 2020.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
