Pakistan’s rice industry has achieved a significant milestone, with exports totaling $3.88 billion during the fiscal year 2024. This marks a remarkable 78% increase in export value compared to previous periods. The volume of rice exported also saw a substantial rise, reaching 6 million metric tons, which reflects a 60% increase.
This surge in exports is attributed to Pakistan’s strategic marketing initiatives and favorable global trade conditions arising from an export ban imposed by India. The ban enabled Pakistan to secure advantageous prices in international markets, contributing to its enhanced competitiveness.
Rafique Suleman, former Chairman of the Rice Exporters Association of Pakistan (REAP), highlighted the pivotal role of strategic marketing and geopolitical factors in this achievement. He underscored how Pakistan’s proactive approach to market its rice effectively, coupled with favorable global trade dynamics, has significantly bolstered its position in the international rice trade.
The export ban imposed by India provided Pakistan with a favorable opportunity to expand its market share and consolidate its standing as a major player in global rice exports. This success not only showcases Pakistan’s growing strength in the rice export market but also demonstrates its capability to capitalize on global trade dynamics to strengthen its agricultural exports.
Looking ahead, Pakistan aims to sustain this momentum and further enhance its position as a leading exporter of high-quality rice worldwide.