The blazing glory of Pakistan’s basmati exports

Although Pakistan is globally ranked ninth in rice production, it claims fourth position as a rice exporter after India, Vietnam, and Thailand. This financial year ending on June 30, rice exports from Pakistan may touch the 5.8 million tonnes mark, a fraction short of the magical 6m tonnes figure, mainly because of favourable weather, availability of farm inputs, and the Indian ban on non-Basmati rice exports. Data from the Pakistan Bureau of Statistics suggests that rice exports crossed the 5m tonne mark in 10 months (July-April FY24), earning $3.4 billion, compared to 3.2m tonne exports worth $1.8bn made during the corresponding period last year. This phenomenal achievement has been made possible due to a 32 per cent volumetric increase in exports of non-Basmati and a 24pc increase in Basmati. On average, the Basmati export price during the 10 months remained $1,141 per tonne and non-Basmati $573 per tonne.