ISLAMABAD, Oct 18: Pakistan is considering various measures to encourage exporters to invest more in production of parboiled rice for its subsequent exports to Saudi Arabia.

According to officials, the move was aimed at expanding its parboiled rice market share in Saudi Arabia, which imports a total of approximately 600,000 tons of the commodity per annum.

During the recent visit of Mr. Tariq Aziz, state minister and chairman, Export Promotion Bureau (EPB) to Saudi Arabia, the possibility of aggressively entering the parboiled rice market in the Kingdom was discussed with the largest importers of the commodity in Riyadh.

It was agreed during the meeting, that a consortium based approach will be adopted in partnership with the largest importers of parboiled rice in Saudi Arabia.

According to officials, the plan was that the importers would guarantee a quantity of 20,000 to 50,000 tons per annum and would import parboiled rice from the consortium of five to ten exporters, to be put together by the EPB.

The exporters would guarantee quality and the price for a year or a period of time mutually agreed between the importer and the consortium, irrespective of any subsequent local price fluctuations. For the purpose, the consortium exporters would be expected to procure paddy in advance.

According to an official announcement issued by commerce ministry on Saturday, all those exporters who have their own par- boiled rice production facility of high quality, should contact EPB latest by November 15, 2003 giving details of production capacity, evidence of financial strength and willingness to be a part of the consortium.

The EPB would select the consortium partners in consultation with rice exporters association of Pakistan (REAP) by the end of November 2003.