By Irfan Ahmed ISLAMABAD May 20 (INP-WealthPK): ‘Pakistan’s rice exports witnessed a 17.21% growth during the first 10 months (July-April) of the ongoing fiscal year 2021-22 to reach $2.051 billion compared with $1.750 billion during the same period of the last fiscal, reports WealthPK, quoting the latest data of Pakistan Bureau of Statistics. As per the PBS data, Pakistan exported 4.044 million tonnes of rice during the first 10 months of this year compared to 3.190 million tonnes in the corresponding period of last year. Year-on-year, rice exports increased by 36.94% to reach $259.661 million in April 2022 compared to $189.616 million in the same month last year, according to the PBS data. In the meantime, the country's monthly rice exports surged by 3.56% to $259.661 million in April 2022 compared to $250.745 million in March 2022. [caption id="attachment_67173" align="aligncenter" width="696"] Source: PBS website/WealthPK research[/caption] Basmati rice exports were recorded at $574.220 million in July-April 2021-22 against the exports of $470.195 million in July-April 2020-21, showing a growth of 22.12%. Basmati rice exports increased by 39% month-on-month to $82.384 million in April 2022 compared to $59.268 million in March 2022. Year-on-year, Basmati rice exports increased by 32.71% to $82.384 million in April 2022 compared with $62.078 million in April 2021. Exports of other qualities of rice were recorded at $1.477 billion in July-April 2021-22 against the exports of $1.259 billion in July-April 2020-21, showing a growth of 15.41%. The country’s total food group exports fetched $4.471 billion in the 10 months of the ongoing fiscal against the exports of $3.317 billion in the corresponding period of last year. The country’s overall food group exports in April 2022 were $523.946 million compared with $512.751 million in March 2022, reports WealthPK. Year-on-year, food group exports increased by 35.71% to $523.946 million in April 2022 compared with $386.071 million in April 2021. The country’s total exports increased by 25.46% to $26.228 billion in the 10 months of the current fiscal compared to $20.905 billion during the same period of the last fiscal year. Imports climbed by 46.41% in the 10 months period to reach $65.492 billion, up from $44.731 billion in the same period last year. The country’s trade deficit widened by 2.72% month-on-month to $3.742 billion in April 2022 against $3.643 billion in the March 2022. [caption id="attachment_67174" align="aligncenter" width="696"] Source: PBS website/WealthPK research[/caption] According to Pakistan Economic Survey 2020-21, Pakistan’s rice production in 2020-21 was 8.419 million tonnes. Rice exports are expected to increase to 4.2 million tonnes in 2021-22, up from 4 million tonnes in the previous year. Pakistan has one of the lowest per capita rice consumption rates in the region at 18kg per year. Rice is not yet considered a mainstay of the Pakistani diet as it is in many other Asian countries. If Pakistan’s rice production rises, the country’s net exports will rise as well. Rice is among the world’s most important food crops. Pakistan has the potential to expand rice production to boost exports. To enhance rice output, the government should grant long-term loans to rice growers. Pakistan's economic growth is mostly reliant on revenue generated from exports. If the government is serious about growing rice exports, it must place a strong priority on revising agriculture policies in favour of farmers.