09 February 2005	Wednesday	29 Zilhaj 1425

KARACHI, Feb 8: Pakistan rice prices eased slightly over the past week on low demand from exporters, and dealers said on Tuesday prices were unlikely to rise in the days ahead amid subdued demand.

"The international buyers are now turning towards the Vietnamese rice because of its low price," said a dealer.

He said Pakistani exporters were unable to compete in the international market because of the high freight charges from the country, and also due to higher domestic prices over the last few weeks.

"We have not received any significant fresh export orders from the African or the Middle Eastern markets," he said.

In the domestic market, Irri-6 was quoted at around Rs1,310-1,320 per 100-kg bag, lower than the last week's levels of Rs1,335-1,350.

Traders quoted FOB prices for Irri-6 at $238/240 per ton.

Pakistan exported 400,000 tons of Irri-6 rice between October and January, exporters said.

The country expects its rice crop for the latest season (April to November) to exceed 4.6 million tons, compared with four million in the previous year, leaving more than 2.4 million tons for exports.-Reuters