12 May 2004	Wednesday	21 Rabi-ul-Awwal 1425

KARACHI, May 11: Rice exporters on Tuesday said the exports would cross the target of $600 million for the current fiscal year as average price of the commodity was higher.

Sheikh Arshad Mahmood, vice-chairman of Rice Exporters Association (REAP), said that our exporters were getting an average price of $145 per ton for coarse rice. He said that basmati rice was getting an average price ranging from $550 to $570 per ton.

He said a sufficient quantity of rice was available in the country and the surplus would be exported as the demand for rice was rising world wide. With two months remaining and international demand was growing, our exporters would be able to cross the target of $600 million for 2003-04, he observed.

According to trade data compiled by the Federal Bureau of Statistics, rice exports were estimated at $508.15 million during the 10 months of this fiscal year, showing a rise of 11.75 per cent over the same period last year. -APP