KARACHI: Surging freight charges and falling dollar rate have badly hit rice exports, said Rice Exporters Association of Pakistan (REAP) on Thursday.
Freight rates to Europe have swelled to $3,500 per container from $600 and for China to $750 from $100, the association said, adding that the freight hike has hit commodity trade.
Furthermore, unfavorable exchange rates have doubled the grievances of rice exporters who are already running behind due to so many factors, especially very low Indian prices.
The association said demand for rice has also declined due to continued global shutdown of travel, tourism, hotel and catering industry amid Covid-19.
Published in Dawn, April 2nd, 2021