The country's rice exports crossed $1 billion mark in the seven months of the current fiscal year FY11. This was announced by the Rice Exporters Association of Pakistan (Reap) in a press release issued here on Tuesday. According to Reap figures, 2.080 million tons rice, worth $1.141 billion has been exported during the seven months of FY11 against 2.397 million tons worth $1.180 billion exported in the corresponding period of FY10.
Irfan Ahmed Sheikh, Chairman of Reap said that due to the disastrous floods, crops of non-basmati rice faced some damage in the province of Sindh, which also affected the rice export trade. "However, it is a good sign that this year, we are getting better price for our rice than last year", he added.
The Reap chairman said that Pakistan's rice exporters are putting huge investment and are installing the latest rice machinery and imported rice plants and working towards value-addition of rice. He applauded all Reap members for their untiring efforts and despite very tough competition in international markets, their contribution for generating the most needed foreign exchange for strengthen the economy of Pakistan. He requested the government of Pakistan that rice exporters are facing some serious issues, like law and order situation, power shortages issues, financing problems with State Bank of Pakistan etc.-PR
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