Rice exports likely to hit record high

[Edevelop]

SHENZHEN: Pakistan will produce around 9 million tonnes of rice in the current year and this will help to export more commodity, noted Rafique Suleman, Convener of the Federation of Pakistan Chambers of Commerce and Industry’s (FPCCI) Standing Committee on Rice.

Owing to the flood-induced crop failure, rice export volumes shrank 25% in the last fiscal year. Pakistan exported 3.717 million tonnes of rice including Basmati and other varieties during July-June FY23 as against 4.97 million tonnes in the corresponding period of previous year.

However, the expected bumper crops this year will bring hope to the industry. Pakistan’s rice exports will not only be higher than the previous year but they will likely touch an all-time high level, Suleman said.

Pakistan’s rice export to China in 2022 surpassed $455 million with a volume of more than 1 million tonnes for the first time, said Ghulam Qadir, Commercial Counsellor.

The article originally appeared on the China Economic Net

Rice exports likely to hit record high | The Express Tribune

Pakistan’s rice export to China in 2022 surpassed $455 million with a volume of more than 1 million tonnes

tribune.com.pk

Pakistan aims to export 5 million tonnes of rice amid India ban

KARACHI: Pakistan's rice exports are projected to rise in the current fiscal year due to the Indian ban on rice exports and the exploration of new markets in Russia and Mexico, the Rice Exporters Association of Pakistan (REAP) said, according to The News.

REAP Chairman Chela Ram Kewlani said Pakistan exported 3.7 million tonnes of rice valued at $2.14 billion in the previous fiscal year, despite facing various challenges.

"Despite devastating floods, crop shortage and many other challenges, we exported 3.7 million tonnes amounting to $2.14 billion," he said.

The REAP chief was optimistic about Pakistan achieving its goal of 5 million tonnes of rice worth $3 billion in the current fiscal year, which began in July.

"India's ban on rice exports will have significant impacts on global rice trade dynamics. This will give a good opportunity for Pakistan to fill the supply gap and expand its market share in major rice-buying countries."

India, the world's biggest rice exporter, banned exports of non-basmati rice last month to ensure domestic supplies amid rising food inflation. Kewlani said Pakistan could benefit from higher export volumes and increased revenues as a result of the ban.

"Overall, the ban may create a favorable trade environment for Pakistan's rice exports." Industry officials said Pakistan's basmati rice prices soared to $500 per tonnes in the international market, up almost $100 from a month ago, as demand surged after the export ban by India.

Pakistani rice is enjoying a premium for its superior quality and could rise further to $600 per tonnes in the coming months, one trader said. "Pakistan has a golden opportunity to boost its rice exports and earn valuable foreign exchange as India has banned its rice exports due to drought." he said.

Pakistan is the world's fourth-largest rice exporter after India, Thailand, and Vietnam. Kewlani said Pakistani non-basmati rice, which was selling at $450 per tonnes before the ban, had also jumped to $500 per tonnes as buyers shifted to alternative sources.

He also said that Russia had registered 15 more Pakistani companies to export rice to the country and 12 more were in the process of registration. "This opportunity will also be beneficial for generation of extra foreign exchange for our country, as Russia is a big and potential market for Pakistani rice."

Kewlani added that a recent visit by Mexican technical experts had gone well and they were satisfied with the compliance of standard operating procedures by Pakistani rice exporters. He hoped that Mexico would soon lift a ban on Pakistani rice and resume imports.

He said Pakistan expected a bumper rice crop this year, with an annual output of around 9 million tonnes. "We hope that we can easily achieve our target of 5 million tonnes worth $3 billion this year."

Pakistan aims to export 5 million tonnes of rice amid India ban

Pakistan expected a bumper rice crop this year, REAP chief says.Country exported 3.7m tonnes rice valued at $2.14b last fiscal year. This year, Kewlani says, Pakistan can export 5m tonnes of rice.

www.geo.tv

 

[Edevelop]

What India’s Rice Export Ban Means for Pakistan?​

Rice is a staple food for nearly 3 billion people and India accounts for 40 percent of its global production but it banned its exports of non-basmati rice last week amid significant monsoon damage to crops and domestic prices jumping 3 percent in a month and 11.5 percent in a year.

The move, coupled with the fallout from the heightened tensions in the Black Sea grain corridor, is set to send shockwaves in food prices globally.

Rice is Pakistan’s third-biggest export group bringing more than $2.1 billion in FY23 despite the national production declining by 21 percent due to floods.

Pakistan is the fourth biggest rice exporter globally and also contributes significantly to national food consumption so it’s unlikely that it will be immune to the aftershock of the ban.
International rice prices are already hovering around their 11-year high so on a positive note, Pakistan can be expected to benefit from this as buyers of Indian rice always turn to Pakistan during such times. Although the new rice crop has yet to harvest, traders are hopeful that it can go favorably for the country’s exports.

“It will surely have some positive impact since non-basmati rice has a very high demand internationally, especially in the African countries”, stated Altaf Hussain Shiekh, Secretary of the Rice Exporters Association of Pakistan (REAP) talking to ProPakistani.

He also hoped that it will have the least impact on domestic prices since our population is more inclined towards basmati varieties.

Pakistan usually has a rice surplus since our annual consumption stands at less than 4 million tonnes while the production stood at 9.3 million tonnes in FY22 before falling to 7.3 million tonnes due to floods last year. However, there is still a strong possibility of a rise in domestic prices due to the ban.

Firstly, our domestic pricing operates more on the market sentiment than actual supply chain inflows and outflows where retailers can sometimes found to cite very ridiculous reasons to jack up the prices.

Secondly, the Indian ban on exports is till 31st August and its rice can enter the market after that which makes it a dual-edged sword.
“It seems risky as well because if growers will sell rice at high prices, the exporters and growers will earn profit but when India opens exports then millers will see losses because the market will go down” stated Amit Kumar, a rice trader from Karachi while talking to ProPakistani.
Secondly, as inflation has skyrocketed, the demand for IRRI-6 and broken non-basmati varieties has also increased as it’s traditionally cheaper than its basmati counterparts.
“Basmati rice prices are Rs. 350-500 per kg in the retail market now you tell how can a poor afford these prices. So they are diverting to IRRI-6 and 100 percent broken rice which is between Rs. 148-155 in wholesale”, added Amit.

Traders are already getting increased calls from India, Vietnam, and other places, and whatever leftover inventories are there, are depleting very quickly.

We have no shortage of market elements who can create a shortage out of nothing so in present circumstances, it’s logical to expect a short-term hike in rice prices, further endangering the food security of the country when wheat and flour are already getting inaccessible.

What India’s Rice Export Ban Means for Pakistan?

Rice is a staple food for nearly 3 billion people and India accounts for 40 percent of its global production but it banned its exports of non-basmati rice

propakistani.pk

 

[my2cents]

What India’s Rice Export Ban Means for Pakistan?​

Rice is a staple food for nearly 3 billion people and India accounts for 40 percent of its global production but it banned its exports of non-basmati rice last week amid significant monsoon damage to crops and domestic prices jumping 3 percent in a month and 11.5 percent in a year.

The move, coupled with the fallout from the heightened tensions in the Black Sea grain corridor, is set to send shockwaves in food prices globally.

Rice is Pakistan’s third-biggest export group bringing more than $2.1 billion in FY23 despite the national production declining by 21 percent due to floods.

Pakistan is the fourth biggest rice exporter globally and also contributes significantly to national food consumption so it’s unlikely that it will be immune to the aftershock of the ban.
International rice prices are already hovering around their 11-year high so on a positive note, Pakistan can be expected to benefit from this as buyers of Indian rice always turn to Pakistan during such times. Although the new rice crop has yet to harvest, traders are hopeful that it can go favorably for the country’s exports.

“It will surely have some positive impact since non-basmati rice has a very high demand internationally, especially in the African countries”, stated Altaf Hussain Shiekh, Secretary of the Rice Exporters Association of Pakistan (REAP) talking to ProPakistani.

He also hoped that it will have the least impact on domestic prices since our population is more inclined towards basmati varieties.

Pakistan usually has a rice surplus since our annual consumption stands at less than 4 million tonnes while the production stood at 9.3 million tonnes in FY22 before falling to 7.3 million tonnes due to floods last year. However, there is still a strong possibility of a rise in domestic prices due to the ban.

Firstly, our domestic pricing operates more on the market sentiment than actual supply chain inflows and outflows where retailers can sometimes found to cite very ridiculous reasons to jack up the prices.

Secondly, the Indian ban on exports is till 31st August and its rice can enter the market after that which makes it a dual-edged sword.
“It seems risky as well because if growers will sell rice at high prices, the exporters and growers will earn profit but when India opens exports then millers will see losses because the market will go down” stated Amit Kumar, a rice trader from Karachi while talking to ProPakistani.
Secondly, as inflation has skyrocketed, the demand for IRRI-6 and broken non-basmati varieties has also increased as it’s traditionally cheaper than its basmati counterparts.
“Basmati rice prices are Rs. 350-500 per kg in the retail market now you tell how can a poor afford these prices. So they are diverting to IRRI-6 and 100 percent broken rice which is between Rs. 148-155 in wholesale”, added Amit.

Traders are already getting increased calls from India, Vietnam, and other places, and whatever leftover inventories are there, are depleting very quickly.

We have no shortage of market elements who can create a shortage out of nothing so in present circumstances, it’s logical to expect a short-term hike in rice prices, further endangering the food security of the country when wheat and flour are already getting inaccessible.

What India’s Rice Export Ban Means for Pakistan?

Rice is a staple food for nearly 3 billion people and India accounts for 40 percent of its global production but it banned its exports of non-basmati rice

propakistani.pk

India will export rice to friendly countries on need basis, so as not to effect the local supplies. In the past we would export rice in huge quantities and then realize that it has detrimental consequences on local supplies and prices. Let us hope Pakistan govt. is not doing the same mistakes just for few dollars and then have to import the same because of local shortages.

 

[HAIDER]

SHENZHEN: Pakistan will produce around 9 million tonnes of rice in the current year and this will help to export more commodity, noted Rafique Suleman, Convener of the Federation of Pakistan Chambers of Commerce and Industry’s (FPCCI) Standing Committee on Rice.

Owing to the flood-induced crop failure, rice export volumes shrank 25% in the last fiscal year. Pakistan exported 3.717 million tonnes of rice including Basmati and other varieties during July-June FY23 as against 4.97 million tonnes in the corresponding period of previous year.

However, the expected bumper crops this year will bring hope to the industry. Pakistan’s rice exports will not only be higher than the previous year but they will likely touch an all-time high level, Suleman said.

Pakistan’s rice export to China in 2022 surpassed $455 million with a volume of more than 1 million tonnes for the first time, said Ghulam Qadir, Commercial Counsellor.

The article originally appeared on the China Economic Net

Rice exports likely to hit record high | The Express Tribune

Pakistan’s rice export to China in 2022 surpassed $455 million with a volume of more than 1 million tonnes

tribune.com.pk

Pakistan aims to export 5 million tonnes of rice amid India ban

KARACHI: Pakistan's rice exports are projected to rise in the current fiscal year due to the Indian ban on rice exports and the exploration of new markets in Russia and Mexico, the Rice Exporters Association of Pakistan (REAP) said, according to The News.

REAP Chairman Chela Ram Kewlani said Pakistan exported 3.7 million tonnes of rice valued at $2.14 billion in the previous fiscal year, despite facing various challenges.

"Despite devastating floods, crop shortage and many other challenges, we exported 3.7 million tonnes amounting to $2.14 billion," he said.

The REAP chief was optimistic about Pakistan achieving its goal of 5 million tonnes of rice worth $3 billion in the current fiscal year, which began in July.

"India's ban on rice exports will have significant impacts on global rice trade dynamics. This will give a good opportunity for Pakistan to fill the supply gap and expand its market share in major rice-buying countries."

India, the world's biggest rice exporter, banned exports of non-basmati rice last month to ensure domestic supplies amid rising food inflation. Kewlani said Pakistan could benefit from higher export volumes and increased revenues as a result of the ban.

"Overall, the ban may create a favorable trade environment for Pakistan's rice exports." Industry officials said Pakistan's basmati rice prices soared to $500 per tonnes in the international market, up almost $100 from a month ago, as demand surged after the export ban by India.

Pakistani rice is enjoying a premium for its superior quality and could rise further to $600 per tonnes in the coming months, one trader said. "Pakistan has a golden opportunity to boost its rice exports and earn valuable foreign exchange as India has banned its rice exports due to drought." he said.

Pakistan is the world's fourth-largest rice exporter after India, Thailand, and Vietnam. Kewlani said Pakistani non-basmati rice, which was selling at $450 per tonnes before the ban, had also jumped to $500 per tonnes as buyers shifted to alternative sources.

He also said that Russia had registered 15 more Pakistani companies to export rice to the country and 12 more were in the process of registration. "This opportunity will also be beneficial for generation of extra foreign exchange for our country, as Russia is a big and potential market for Pakistani rice."

Kewlani added that a recent visit by Mexican technical experts had gone well and they were satisfied with the compliance of standard operating procedures by Pakistani rice exporters. He hoped that Mexico would soon lift a ban on Pakistani rice and resume imports.

He said Pakistan expected a bumper rice crop this year, with an annual output of around 9 million tonnes. "We hope that we can easily achieve our target of 5 million tonnes worth $3 billion this year."

Pakistan aims to export 5 million tonnes of rice amid India ban

Pakistan expected a bumper rice crop this year, REAP chief says.Country exported 3.7m tonnes rice valued at $2.14b last fiscal year. This year, Kewlani says, Pakistan can export 5m tonnes of rice.

www.geo.tv

Yes, India stops exporting rice, best chance for Pakistani exporters to make money.

 

[Olympus81]

India I believe will only ban basmati exports.

Non basmati exports will not be affected.

 

[Nothing]

India I believe will only ban basmati exports.

Non basmati exports will not be affected.

Other way around.. short grain - non-basmati is banned - these are used by mostly lower and lower-middle class folks around India due to cheaper than basmati

 

[maithil]

Good luck to Pakistan.

India should gradually move towards minimizing Rice exports.

 

[fitpOsitive]

SHENZHEN: Pakistan will produce around 9 million tonnes of rice in the current year and this will help to export more commodity, noted Rafique Suleman, Convener of the Federation of Pakistan Chambers of Commerce and Industry’s (FPCCI) Standing Committee on Rice.

Owing to the flood-induced crop failure, rice export volumes shrank 25% in the last fiscal year. Pakistan exported 3.717 million tonnes of rice including Basmati and other varieties during July-June FY23 as against 4.97 million tonnes in the corresponding period of previous year.

However, the expected bumper crops this year will bring hope to the industry. Pakistan’s rice exports will not only be higher than the previous year but they will likely touch an all-time high level, Suleman said.

Pakistan’s rice export to China in 2022 surpassed $455 million with a volume of more than 1 million tonnes for the first time, said Ghulam Qadir, Commercial Counsellor.

The article originally appeared on the China Economic Net

Rice exports likely to hit record high | The Express Tribune

Pakistan’s rice export to China in 2022 surpassed $455 million with a volume of more than 1 million tonnes

tribune.com.pk

Pakistan aims to export 5 million tonnes of rice amid India ban

KARACHI: Pakistan's rice exports are projected to rise in the current fiscal year due to the Indian ban on rice exports and the exploration of new markets in Russia and Mexico, the Rice Exporters Association of Pakistan (REAP) said, according to The News.

REAP Chairman Chela Ram Kewlani said Pakistan exported 3.7 million tonnes of rice valued at $2.14 billion in the previous fiscal year, despite facing various challenges.

"Despite devastating floods, crop shortage and many other challenges, we exported 3.7 million tonnes amounting to $2.14 billion," he said.

The REAP chief was optimistic about Pakistan achieving its goal of 5 million tonnes of rice worth $3 billion in the current fiscal year, which began in July.

"India's ban on rice exports will have significant impacts on global rice trade dynamics. This will give a good opportunity for Pakistan to fill the supply gap and expand its market share in major rice-buying countries."

India, the world's biggest rice exporter, banned exports of non-basmati rice last month to ensure domestic supplies amid rising food inflation. Kewlani said Pakistan could benefit from higher export volumes and increased revenues as a result of the ban.

"Overall, the ban may create a favorable trade environment for Pakistan's rice exports." Industry officials said Pakistan's basmati rice prices soared to $500 per tonnes in the international market, up almost $100 from a month ago, as demand surged after the export ban by India.

Pakistani rice is enjoying a premium for its superior quality and could rise further to $600 per tonnes in the coming months, one trader said. "Pakistan has a golden opportunity to boost its rice exports and earn valuable foreign exchange as India has banned its rice exports due to drought." he said.

Pakistan is the world's fourth-largest rice exporter after India, Thailand, and Vietnam. Kewlani said Pakistani non-basmati rice, which was selling at $450 per tonnes before the ban, had also jumped to $500 per tonnes as buyers shifted to alternative sources.

He also said that Russia had registered 15 more Pakistani companies to export rice to the country and 12 more were in the process of registration. "This opportunity will also be beneficial for generation of extra foreign exchange for our country, as Russia is a big and potential market for Pakistani rice."

Kewlani added that a recent visit by Mexican technical experts had gone well and they were satisfied with the compliance of standard operating procedures by Pakistani rice exporters. He hoped that Mexico would soon lift a ban on Pakistani rice and resume imports.

He said Pakistan expected a bumper rice crop this year, with an annual output of around 9 million tonnes. "We hope that we can easily achieve our target of 5 million tonnes worth $3 billion this year."

Pakistan aims to export 5 million tonnes of rice amid India ban

Pakistan expected a bumper rice crop this year, REAP chief says.Country exported 3.7m tonnes rice valued at $2.14b last fiscal year. This year, Kewlani says, Pakistan can export 5m tonnes of rice.

www.geo.tv

Pakistan better save these grains for the near future. No one will return these grains for any amount of money.

 

[ST1976]

India will export rice to friendly countries on need basis, so as not to effect the local supplies. In the past we would export rice in huge quantities and then realize that it has detrimental consequences on local supplies and prices. Let us hope Pakistan govt. is not doing the same mistakes just for few dollars and then have to import the same because of local shortages.

we won't favour export of any non-basmati rice from India
and export ban would mean for reducing price of rice in India and hence wheat price also

 

[KAL-EL]

Is it really good rice? Or excellent rice?

 

[Maula Jatt]

Is it really good rice? Or excellent rice?

It's excellent rice because it's basmati rice not regular rice
Unless if you're making Chinese food basmati's not appropriate for Chinese

 

[SoulSpokesman]

@Maula Jatt

Chinese people prefer sticky rice, not sure they will like basmati

Regards