LAHORE: After continuous downward slide for the first four months of the current financial year against the corresponding period, rice exports from Pakistan witnessed a healthy trend in November 2020, and showed a slight growth at 458,104 tons against 452,020 tons in November 2019.
“But the most important aspect of November 2020 rice exports is 28% increase in Basmati export from 61,054 tons in November 2019 to 78,160 tons in November 2020 mainly due to the enhanced volume of Basmati Brown export to the EU. It is estimated that during Nov 2020, Pakistan exported approximately 25,000 to 30,000 tons of Basmati Brown rice,” said Rice Exporters Association of Pakistan (REAP) Senior Vice Chairman Faisal Jahangir Malik while talking to Business Recorder here on Saturday.
He termed the increase in Basmati rice exports as the entry of European buyers in the market especially from the UK, Italy and Spain. Meanwhile, Hamid Malik, a rice sector analyst and consultant while sharing the export figures said non-Basmati exports in November 2020 decreased from 390,956 tons in November 2019 to 379,944 tons in 2020 mainly due to less priced Indian non-Basmati white and Parboiled rice. India is having a huge carryover rice stocks and a bumper production from just harvested crop. India is cheaper by $30-40/ton for 5% broken than Pakistan’s $70-80/ton.
The overall Pakistan rice exports in five months from July to Nov 2020 came down to 1,340,770 tons as compared to 1,628,295 (July-Nov 19), a massive decrease of 17% in five months of this fiscal year, he said, and expressed his fear that Pakistan Rice export in fiscal year 2020-21 will not cross 4 million tons.
Copyright Business Recorder, 2020
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