Pakistani rice prices rose over the past week after recent rains damaged thousands of tonnes of stocks, and will rise further on demand from exporters in the coming months, dealers said on Tuesday. "Heavy rains earlier this year damaged the quality of thousands of tonnes of rice," said Haji Abdul Majeed, a Karachi-based exporter. "The grains have turned yellow and need extra polishing, which means higher processing cost," he said.
Pakistan expects its rice output this April-November season to exceed 4.8 million tonnes, compared with 4.0 million tonnes last year, leaving more than 2.4 million tonnes for export.
Some dealers estimate that at least 150,000 tonnes of rice was damaged by rain, but others say the figure was even higher.
Majeed said Pakistan faced tough competition in the export market from cheaper rice from Thailand and Vietnam.
"The demand for our rice is low even in Pakistan's traditional markets such as West Africa, where sufficient stocks of Vietnamese and Thai rice are available," he said.
But Pakistani exports were expected to bounce back in the coming months on fresh demand in Africa and the Middle East, dealers said.
In the local market, IRRI-6 varieties were quoted between 1,300 and 1,350 rupees for a 100-kg bag, compared with 1,290 and 1,300 rupees a week ago.
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