Pakistan has shown improvement in exporting food products during the last seven months of the current fiscal year 2018. Pakistan has exported food products worth $2.395 million in just 7 months which was up by 18.8 percent as compared to corresponding period in the last fiscal year. Last year during the same period Pakistan’s food exports were standing at $2.016 billion.
According to the data published by Pakistan Bureau of Statistics PBS, around 2,292,348 metric ton of rice was exported from Pakistan to various countries. Rice exports were accounted for $1.061 billion as compared to corresponding period last year having exports of 2,048,037 metric ton valued at $876.75 million. Rice export alone increased by 21.7 percent during the period under review.
Basmati rice exports also increased by 6.83 percent during the last 7 months as compared to the period last year.
Pakistan has the opportunity to increase the rice exports further because of the ban on Indian Basmati Rice in European countries. However, the recent data on rice exports doesn’t reflect the market which Pakistan can grab, EU put a ban on Indian rice due to inferior quality and high presence of tricyclazole last year. If Pakistan is able to grab this market gap, the rice exports can be increased to an unprecedented level.
Similarly, Pakistan’s food commodities imports are also on the rise, the food imports in the country grew by 9.77 percent reaching $3.77 billion as compared to the $3.44 billion same period last year.
But if we look at the data on month on month basis, the food imports decreased by 7.21% and stood at $535.34 million in January 2018 as compared to $576.88 million in the month of January last year.