Pakistan Rice exports decline in FY 2016-17

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Pakistan Rice exports decline in FY 2016-17

ISLAMABAD (APP): The country earned $876.914 million by exporting about 2.078 million metric tons of rice in first seven months of current financial year as compared the exports of the corresponding period of last year.

During the period from July-January, 2016-17 rice exports reduced by 14.62 percent as compared to the same period of last year.

About 2.307 million tons of rice valuing $1027.52 million during seven months of last financial year, according the data of Pakistan Bureau of Statistics.

During the period under review, about 234,337 metric tons of basmati rice worth $208.177 million exported as compared to exports of 283,495 metric tons valuing $281.911 million of same period last year.

Meanwhile, in last seven months about 1,844,048 metric tons of rice other then basmati rice exported and earned $670.737 million as compared to 2,023,778 metric tons valuing $785.141 million of same period of last year.

On month on month basis, rice exports grew by 3.85 percent in month of January, 2017 as compared to exports of same period of last year.

About 390,690 metric tons of rice worth $163.925 million exported in last month as against the exports of 346,691 metric tons valuing $157.855 million of the corresponding month of last year.

In month of January, 2017 about 44,831 metric tons of basmati rice valuing $35.531 million as compared to exports of 41,538 valuing $33.215 million, which was up by 6.97 percent of same month of last year.

The export of rice other then basmati also grew by 3.1 percent in last month of current financial year as 345,859 metric tons of others rice worth $128.394 million exported as compared the exports of 305,155 metric tons valuing $124.640 million of same month of last year.

It may be recalled that food group exports during last 7 months reduce 9.28 percent and recorded at $2.23 billion as compared to exports of 2.230 billion of same period of last year.

On the other hand food group imports into the country increased by 11.69 percent and reached at $3.444 billion as compared to imports of $3.83 billion of corresponding period of last year.