Four million tons of rice to be exported

Rice Exporters Association (REA) Chairman, Muhammad Azhar has said that Pakistan due to good harvesting of rice will export its 21 percent surplus output in the existing fiscal year. He further said that rice worth $250 million has already been exported during July- August this year, while four million tons of rice valued three billion dollars would be exported during the current fiscal year, private TV channel reported.
Chairman said that the local market wholesale price of rice has dropped down by 30 percent, but the retailers were not passing on the benefit to the people by allowing corresponding price cut. Countrywide rice output this year is estimated at 5.5 million tons.