Pakistan's basmati exports plunge after India lifts ban...

arkem8

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KARACHI:The Basmati exports from Pakistan has declined by 60 percent to 160,000 tons during July 1 to November 28 against 403,000 tons exported in the same period last year, said Jawed Ali Ghori, chairman of REAP.

In the value-term, the exports fell by 56 percent to $152 million from $346 million last year, he said.

"India kept basmati exports banned for around two years but lifted the ban after it estimated to produce surplus crop this year."

"India may report a production of around 100 million tons of rice this season against an estimated 6.5 million tons in Pakistan," he said: adding, "India might beat the world's largest grower of long grain rice, Thailand in rice exports this year."

The neighbouring country is giving tough time in the world markets such as Europe and Iran, he said, adding that India enjoys good relations with Iran than Pakistan.

"Pakistan and Iran cannot have official trade since the United States has put economic sanctions on Iran.

Banks in Pakistan are no more opening letter of credits for goods to Iran," he said, adding that India is having no such issues with Iran and having good trade ties at the state level. Ghori said that the cost of doing business has risen sharply in Pakistan after the country continued to face electricity amid the energy crisis. This factor is also giving an edge to the Indian rice in the world market over Pakistani rice.

India is selling rice at the world markets at a price, which is lower than Pakistan. "India is selling the commodity at a discount of up to $100 per ton against Pakistan's $1,100-1,150 per ton at the international market."

The export of Pakistan's non-basmati has also declined by around 39 percent in the value terms to $188 million during July-October from $306 million in the same period last year, he said.

The Reap chairman said that Pakistan has recently discovered Philippines as a new market for its rice.

He expressed the hope that the market would help Pakistan improve exports this year. "Pakistan has started exporting to Philippines."(The Phillipines?? Yeah that's Right)

Moreover, a Philippines delegation is scheduled to visit Pakistan in December. Earlier, Philippines has showed interest to import 250,000 tons rice from Pakistan this year, he added.
Pakistan's basmati exports plunge after India lifts ban - thenews.com.pk

Chal Paki abhi Channa,Dhal Bech Chinio ko....:))
 
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