During the period from July to June 2017-18, Pakistan’s basmati rice exports have seen a tremendous increase of 19.14 percent. Pakistan has exported 520,759 metric tons of rice worth $540.231 million.
During the period under discussion, Pakistan has improved its rice exports as compared to previous corresponding period. The exports during the period July-June 2016-17 stood at 496,263 metric tons valuing at $453.441 million.
Pakistan’s basmati rice have seen a considerable 19.14 percent growth in quantity exported as compared to the previous period. The data from Pakistan Bureau of Statistics reveals.
Collectively, 4.106 million tons rice worth $2.073 billion was exported in the last 12 months if the last financial year, however, 3.523 million tons of rice valuing $1.606 billion was recorded during the corresponding previous financial year. The overall growth of rice exports stood at 26.78 percent.
Pakistan has generated $1.496 billion by exporting 3.585 million tons of rice other than basmati against the corresponding exports of 3.053 million tons valuing $1.153 billion, for the period July-June.
The overall food commodity exports witnessed a growth of 29.28 percent by earning $4.797 billion, however, the earnings for food commodity exports stood at $3.711 billion during last year.
Apart from rice other food commodities exports were also up, fish and fish products saw an increase of 14.57 percent, while, vegetables and fruits grew by 30.56 and 5.8 percent respectively. It was witnessed that Pakistan’s vegetable exports growth was the higher among other food commodities.
During the same period, July-June 2017-18 Pakistan generated $451.026 by exporting fish and fish products, $400.237 million by exporting fruits and $241.426 million by exporting vegetables.
Pakistan’s exports revenue is not balancing with growing imports spending creating the trade deficit. Pakistan has spent $6.185 billion on food imports during the last fiscal year which was higher than the previous corresponding period when it spent $6.143 billion on food imports indicating 0.68 percent growth.
The most single item in food category imported in Pakistan is tea, however, the country consumed little less this year about 183,321 metric tons of tea valued at $551.881 million as compared to 194,833 metric tons worth $523.790 million in the previous period.