Pakistan is earning profit by selling rice
Pakistan Rice Export News: India is the largest exporter of rice in the world. However, India has banned the sale of rice from its country last year. There is a ban on selling Basmati rice to meet domestic needs. Because of this, the demand for Pakistan’s rice has started increasing in the world, that is, when India banned the sale of rice, poor Pakistan got an opportunity because of India. For this reason he is earning profit by selling rice. Poor Pakistan is benefiting from the ban imposed by the Indian government on the sale of rice. Pakistan’s rice exports are expected to reach a record high by June this year. However, due to sending rice abroad, the prices of rice are gradually increasing in Pakistan too. These prices are increasing despite higher production of rice. Pakistan is exporting non-Basmati rice mainly to Indonesia, Senegal, Mali, Ivory Coast and Kenya and premium Basmati rice to the European Union, Qatar and Saudi Arabia.
Pakistan is benefiting tremendously from the Indian government’s ban on export of rice. Pakistan’s rice exports are likely to reach a record high by June this year. Due to restrictions imposed on India’s exports, world buyers have to purchase rice from Islamabad only. Due to increasing demand for Pakistani rice, this country is getting the highest price in the last 16 years.
India is the largest rice selling country
India alone accounts for 40 percent of the world’s rice trade. Indian rice is in great demand in the world. However, India took an unexpected step last year and banned the export of non-Basmati rice. Also imposed duty on export of Parmal rice. Poor Pakistan is benefiting from this. However, India has imposed this ban only to give priority to its domestic needs. Due to this, poor Pakistan has also got relief from the decreasing foreign exchange reserves.
Pakistan’s export can reach 50 lakh tonnes
Chela Ram Kewalani, Chairman of Rice Exporters Association of Pakistan, said, ‘The demand for our rice has increased during the last few months. The main reason for this is India’s ban on exports. We think that Pakistan’s exports can reach 50 lakh tonnes in the year 2023-24. This is much more than last year’s 3.7 million tonnes. On the other hand, Professor Adil Nakhoda at the Institute of Business Administration, Karachi says that Pakistan can earn more than $ 3 billion from rice exports this year.
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