The latest export numbers paint the same old bleak picture for the countrys rice industry, as both Basmati and non-Basmati varieties have shown a decline in dollars earned - for the eleven months ended FY16.

Pakistan's Basmati rice exports are down 7 percent year-on-year in terms of volume and a whopping 27 percent in value. Meanwhile, the long-grained rice exports have increased 12 percent by volume yet also registered a small decline of 3 percent in dollar earnings.

Basmati is a more expensive and premium variety of rice, and thus fetches better value. However, it has been suffering for a number of years now, and little has been done to rejuvenate it. There are two main reasons for the decline: (a) inability to compete with India's lower prices, and (b) lack of research and development in better varieties (Read: "Rice exports down on Basmati slump," Published November 30, 2015).

The long-grained, non-Basmati variety continues to do well, as Pakistan continues to sell to low-income countries where cheap rice has a high demand. However, this earns far less than the Basmati variety. Moreover, the lower commodity prices cannot be ignored, as a result of which even higher quantities are earning lesser dollars still.