Pakistan's exports of IRRI grade varieties of rice are tailing off as stocks dwindle while basmati exports are continuing slowly, mainly to the Middle East, dealers said on Tuesday.
"Now there is not much rice left for exports, specially the IRRI-6 quality," Abdul Majid, a Karachi-based exporter said. "The domestic prices of IRRI have also risen to levels where we can hardly compete."
Pakistan is the key exporter of IRRI-6 rice, popular in Africa. Dealers said high exports of IRRI-6 were likely to push its prices up in the domestic market and there could be shortage of IRRI-6 in the domestic market by next month. "But exports of Basmati to the Middle East and of brown rice to Europe will continue slowly," another dealer said.
Pakistan exports good quality Basmati rice to Europe and its conventional markets in the Middle East. Dealers said over two million tonnes of rice had already been shipped between July and March from Karachi Port. The exporters were filling previous orders and most of the shipments are container-based, they added.
"There is only one bulk cargo ship carrying 10,000 tonnes of rice for Africa at Port Qasim," Majeed said, adding other shipments are for smaller quantities.
Pakistan harvested a crop of five million tonnes in the year 2005 against last year's 4.8 million. Annual domestic consumption is about 2.3 million tonnes.
Pakistan's crop year runs from April to November. Sowing normally starts in mid-April and harvesting begins in August, peaking in September.
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