KARACHI, April 26: Export of Pakistani rice, both basmati and coarse variety, will be increased by at least 10 per cent in quantity and 15 to 20 per cent in value during 2006-07.

Chairman Rice Exporter Association of Pakistan (REAP) Abdul Aziz Maniya said here on Thursday that the international prices of basmati rice had surged by 35 to 40 per cent since November 2006 due to crop shortage in leading rice producing countries.

“The average price of basmati is $850 per ton now, rising from $650 per ton in November 2006. Similarly, 30 per cent broken IRRI-6 is exported at $265 per ton. This was $215 per ton at the start of the season,” he added.

Maniya said that 5 per cent broken is about $300 per ton against $250 per ton in November.

He said China, Thailand, Vietnam, India and Sri Lanka had reported short crops this season, particularly in coarse rice. This will benefit Pakistan where rice production is sufficient enough to export higher quantity of this popular staple crop, he observed.

REAP chairman said that Pakistan will be able to meet the rice export target of $1.3 billion by end of June 30, 2007.He, however, noted that the exporters might not be able to get full advantage of 40 per cent price rise, but will get 15 to 20 per cent benefit in value. Most of the exporters had earlier committed to export on last year's prices, he added.

According to the provisional data compiled by the Federal Bureau of Statistics the export price of basmati rice has increased by 20 per cent while the export quantity surged by 16.22pc between July-March 2007.

Although, the total value of rice export from Pakistan declined by 3.31 per cent to $818.157 million till March 2007, the export of basmati rice increased by 20 per cent to $416.13 million during the same period.—APP