Food exports surge 112pc in December

The export of raw food products recorded an upsurge of almost 111.63 per cent in December compelling domestic consumers to pay higher prices. These unchecked exports pushed the food inflation to a staggering 28.8pc in December 2023 as prices skyrocketed affecting accessibility to essential commodities, particularly wheat flour, rice, sugar, meat and vegetables. Since October 2023, the country’s raw food exports have increased dramatically, although manufacturing sector exports have remained flat for several months. Food exports grew 49.84 per cent in the first half of fiscal year 2023-24 to $3.48 billion from $2.32bn in the corresponding months of last year, according to data released by the Pakistan Bureau of Statistics (PBS).