Increase in worth of Rice Exports- US$ 1.889bn in 11 months of FY 2017-18

ISLAMABAD: The rice exported from the country during 11 months of current financial year registered 29.15% growth as compared to the exports of corresponding period of last year as about 3.842 million metric tons of rice worth US$ 1.889 billion.

According to the data provided by Pakistan Bureau of Statistics, the exports of rice was recorded at 3.889 million metric tons valuing US$ 1.463 billion during same period of last year.

During the period from July-May, 2017-18, 461,472 metric tons of basmati rice worth US$ 478.853 million were exported as against the exports of 406,824 metric tons worth US$ 385.746 of same period last year.

In last 11 months of financial year 2017-18, basmati rice exports grew by 24.14 percent as compared the  exports of the corresponding period of last year.

Meanwhile, country earned US$ 1.411 billion by exporting about 3.380 million metric tons of rice other then basmati rice during the period under review as compared the exports of 2.860 million metric tons valuing US$ 1.077 billion of same period last year.

There is hike of about 3.80% in various food commodities including rice, fish, fish products, meat, meat preparations, fruits,  vegetables pulses and others worth US$ 4.479 billion exported.

As per data, it is revealed that the exports of food commodities during the same period of last financial year was recorded at US$ 3.425 billion.

On the other hand, rice exports on month on month basis also witnessed tremendous increase in month of May, 2018 as compared the same month of last year as it went up by 79.62 percent and reached at  376,863 metric tons  worth US$ 209.898 million.

In last month, exports of basmati rice witnessed 32.83 percent growth and about 54,061 metric tons of  basmati rice valuing US$ 53.384 million exported as compared the exports of 48,571 metric tons worth US$ 40.190 million of same month of last year.

The exports of rice other then basmati witnessed 104.16 percent growth during the period under review and about 322,802 metric tons of rice worth US$ 156.514 million exported as against the exports of 173,782 metric tons valuing US$ 76.664 million of same month of last year.