KARACHI, July 9: Country's rice export has surged by 13 per cent to $627.214 million during 2003-2004, breaking all previous records of rice exports, exporters said here on Friday.

They said that rice export has also surpassed the export target of $600 million for 2003-2004. According to a provisional trade data released by the Federal Bureau of Statistics, the major contributor to this rise was the export of basmati rice which stood at $419.955 million showing a climb of 16.39 per cent over last year.

A leading exporter said that increase in the value of coarse rice and basmati also supplemented the increase in rice export this year. Although the volumes declined by 1.43 per cent compared to last year, the value surged significantly, he added.

Former chairman Rice Exporters Association Rahim Janoo said this was an all time record in the history of rice export. Last year, Pakistan exported rice worth $555 million, he said.

He said that value of IRRI-6, IRRI-9 and basmati rice has increased by 20 to 25 per cent while coarse rice by 15 to 17 per cent. He pointed out that IRRI-6 secured an average price of $260 per ton, IRRI-9 $350 a ton, basmati PK-385 $490 per ton and super basmati $570 a ton.

The value of coarse rice was $207.259 million during 2003-2004 against $194.647 million in 2002-2003. Janoo expressed the hope that rice crop was good this year and rice export will surpass $700 million during 2004-2005.

He noted that Pakistan would also get its due share in par boiled rice export this year as par boiled plants were being imported from India. One of these plants has arrived at Karachi port and will be ready for production before November when season takes off, he added. -APP