Unbridled food exports force domestic consumers to pay record prices for essential items

The country is confronting its highest-ever inflation, but the Min­istry of Commerce said on Tuesday that raw food exports increased by 37 per cent in FY24 over the preceding fiscal year. The value of raw food exports reached $8 billion in 2023-24, up from $5.8bn over the corresponding period last year, according to the data compiled by the Trade Deve­lopment Authority of Pakistan (TDAP). As a result, consumers across the country are paying higher prices for food items because of supply and demand gaps. Raw food exports have climbed for 11 consecutive months in the outgoing fiscal year despite the highest food inflation in history.