ISLAMABAD (Web Desk) – Pakistan’s rice exports have declined during the first six months of the current fiscal year, causing global prices to fall by nearly half, a National Assembly standing committee briefing revealed.
Read also: Flour prices soar, basic food staples continue slipping out of reach
At the National Assembly Standing Committee on Commerce, Javed Hanif highlighted that exporters had received PKR 15 billion from the Export Development Fund (EDF). He questioned the approvals granted just two days before the formation of the new board, noting that rice exports had already slowed during the initial half of the fiscal year. LCCI engages China and UK officials to boost trade, SMEs, and global business opportunities
Officials stated that both the quantity and global pricing of Pakistani rice had dropped significantly. Increased rice production worldwide and India’s resumption of exports, after a hiatus in 2023-24, contributed to the market slump. The rate difference between Pakistani and Indian rice reached approximately $20 per unit in international markets.
Pakistan currently holds rice reserves worth $2 billion. It was also revealed that real estate capital had been used by stockists to purchase rice, while exports to Iran included both basmati and non-basmati varieties.
The committee was briefed that financial support from the EDF had been provided specifically for rice exporters—a sector previously excluded—offering relief similar to past support extended multiple times to the textile industry.
The briefing underscored that the combination of India’s market re-entry, local export challenges, and government support measures had shaped the current dynamics of Pakistan’s rice sector.
