KARACHI: Pakistan’s rice exports have nearly halved so far this fiscal year as the world’s fourth largest exporter appears to be losing ground to its regional peers, commodity analysts said on Monday, following India’s removal of a ban on rice exports.
Pakistan’s rice exports declined 46 percent to $581.2 million from July till October from $1.08 million during the same period last year, according to the Pakistan Bureau of Statistics (PBS).
The country exported 998,063 tons of grains, which was down by 37 percent from the 1.59 million tons it had sold from July till October last year.
“Pakistan’s rice exports are falling because of the international market prices,” Muzzammil R. Chappal, chairman of the Cereal Association of Pakistan (CAP), told Arab News.
“Presently, India, Thailand and Vietnam are offering very low prices for the commodity.”
