Rice Exports Fall By 21.19% YoY in July-October FY21

Industry

According to data released by the Pakistan Bureau of Statistics (PBS), approximately 838,770 metric tons of rice worth $499.485 million was exported during the first four months of the current financial year as compared to the exports of 1,176,228 metric tons worth $633.797 million in the corresponding period last year.

This data showed that Pakistan’s rice exports during July-October FY21 decreased by 21.19 percent as compared to the exports in the same period last year.

It also revealed that the basmati rice exports had reduced by 34.87 percent as compared to the exports during the same period last year.

During July-October FY21, approximately 170,729 metric tons of basmati rice valued at $168.745 million were exported against exports of 283,458 metric tons worth $259.099 million in the same period last year.

Also, vegetable exports grew by 20.16 percent during the last four months as around 156,286 metric tons of vegetables worth $66.554 million were exported, compared to 197,596 metric tons valuing $55.386 million exported during the same period last year.

The data also mentioned that during July-September FY21, the exports of meat and meat products registered a growth of 5.83 percent as 30,403 metric tons of meat and meat products worth of $102.968 million, as compared to the exports of 25,442 metric tons valued at $97.300 million during the same period last year.

It is noteworthy that within the last four months of the current financial year, Pakistan’s food group imports grew by 43.49 percent as different food commodities worth $2.272 billion were imported, against the imports of $1.583 billion during the same period last year.

Conversely, Pakistan’s food group exports during the review period decreased by 16.77 percent that was recorded at $1.331 billion from July-October FY21 as compared to $1.359 billion in the corresponding period last year.

On a Month-on-Month basis, the food commodities exports posted a 13.42 percent reduction in October 2020 as compared to October 2019, whereas Pakistan’s imports during the period under review grew by 15.14 percent.

 

Source: Propakistani

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