KARACHI: After increment in brown rice prices by India, Pakistan has an opportunity to increase its brown rice exports by 250,000 tonnes to EU countries as its commodity is relatively cheaper.
Rice Exporters Association of Pakistan (REAP) former chairman Jawed Ali Ghori identified the opportunity and shared it with Daily Times on Saturday.
He said the country in past six months July to December of current fiscal year 2013 has already exported approximately 52,000 tonnes of the said variety to EU countries and now due to duty-free access to these markets it can export 250,000 tonnes more.
He highlighted that India has also increased the prices of the said variety by a massive amount resulting in the opportunity for Pakistani exporters to tap EU markets in the current fiscal year.
Overall, in past six months of current fiscal year export of Pakistani rice has increased up to 9.0 percent as compared to the same period during the previous fiscal year.
Ghori told the country has exported approximately 1.574 million tonnes of Basmati and non-Basmati rice costing $819 million in the six months of current fiscal year (July to December 2013), whereas it had exported 1.446 million tonnes costing $752 million during the same period of previous fiscal year.
Giving a breakdown of above-mentioned figures, he stated Basmati rice export during the said period stood at 274,000 tonnes costing $297 million as compared with 240,000 tonnes priced at $233 million during the same period of previous year, posting an increase of about 14 percent in quantity and 27 percent in price.
Similarly, non-Basmati rice export stood at 1.3 million tonnes worth $522 million during the said period as compared with 1.206 million tonnes worth $519 million during the same period the previous year, witnessing a rise of about 8.0 percent in quantity and 0.6 percent in price, he added.
REAP Senior Vice Chairman Chela Ram K K said earlier this year the rice exporters are seeing a 100 percent increase in earning revenue via rice exports.
He had said if the target to double export this year would not meet, it is certain the export will be increased by 50 percent.
REAP statistics stated the rice export revenue achieved in the year 2010-11 was $2.09 billion, which decreased to $2.08 billion in the year 2011-12. This decreasing trend continued in the year 2012-13 to $1.98 billion.
K K said there would have been no declining slope in rice exports in past years, had the research work on rice seed been undertaken, even the country would already be able to increase its export revenue multiple times as compared with what they have forecast for current year.
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