Pakistan's rice exports have seen a significant decline of 17.33% during the first two months of the current fiscal year, with the nation exporting over 340,237 metric tons of rice worth approximately $233.991 million, as reported by the Bureau of Statistics. The data indicates a substantial drop when compared to the same period last year.In the corresponding months of the previous fiscal year (July-August 2022), Pakistan had exported a total of 507,144 metric tons of rice, fetching around $283.056 million in revenue.

This decline in rice exports highlights the challenges faced by Pakistan's agriculture sector during the ongoing fiscal year, as global dynamics continue to affect trade patterns. However, there is a silver lining within these statistics, as the report reveals that Basmati rice exports have increased by 8.29% during the same period. This suggests that Pakistan's high-quality Basmati rice remains in demand globally, providing some relief to the country's overall export figures.

Apart from rice, the report also sheds light on Pakistan's performance in other food categories. During the first two months of the current fiscal year, the country earned approximately $39.338 million by exporting about 20,539 metric tons of fish and fish products. While the seafood sector maintained its export momentum, the overall exports of food commodities saw a modest decrease of 1.65%. Food commodities worth $711.748 million were exported, compared to $723.696 million during the same period last year. The decline in overall food exports may be attributed to various factors, including global market fluctuations, trade restrictions, and economic uncertainties that have prevailed during this fiscal year.

 Credit: Independent News Pakistan (INP)