For the first time in the country's history, Pakistan's rice exports have crossed the $1 billion mark, to $1.002 billion, as a result of 2.81 million tons rice exported to different countries up to March 31.
According to figures available, 1.5 million tons Irri-6 variety was exported fetching $450 million, while 560,000 tons Basmati variety earned $325 million during nine months of the current fiscal year.
In addition to the above, 250,000 tons rice (both Irri-6 and Basmati varieties), worth $70 million, was exported to Iran, and 250,000 tons, worth $94 million to Afghanistan through land route, while 250,000 tons rice, worth $63 million, was exported to East African countries through container cargo during this period.
During last fiscal year 2004-05, Pakistan's total rice exports amounted to $933 million.
Total rice production in the current year has been recorded at 5.5 million tons, of which around 2.7 million tons was Irri-6 variety and equal quantity of Basmati variety has been produced.
Rice Exporters Association of Pakistan (Reap) Chairman Abdul Majeed, while talking to Business Recorder here on Saturday, said that it was a historic occasion that Pakistan has become a member of $1 billion exporters' club this year. He said that due to a bumper crop, value-addition and exploration of new markets by the rice exporters the exports of this commodity crossed the $1 billion mark this year.
"We would be able to achieve the $1.2 billion target of rice exports, set by the Reap this year", he said, adding that rice exports could cross $1.3 billion mark as there is still three months' time to export this commodity.
He said that this was a tremendous achievement by rice exporters which had been possible due to the positive economic policies of the present government and hard work by the Ministry of Commerce and Commerce Minister.
He also lauded Export Promotion Bureau and other concerned government departments for their co-operation with the exporters.
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