KARACHI, Nov 30: Basmati rice exports during first five months of current fiscal (July-Nov) recorded a steep fall (up to 49 per cent) at 160,000 tons compared to 403,000 tons exported in the corresponding period last year.

As a result, foreign exchange earnings through basmati rice exports plummeted to $152 million during July-November of the current fiscal year as against $346m in the same period last year.

Similarly, export of non-Basmati rice during the first four months (July-Oct) of current fiscal year fetched $188m only as against $306m earned in the same period last year on exporting 642,000 tons.

Rice Exporters Association of Pakistan (Reap) chairman Jawed Ali Ghouri said that a host of factors have made rice exports this year difficult.

“Aggressive marketing by Indian exporters and flooding of world market by Burma remain the major reasons,” he informed.

He said this year the country was expected to harvest bumper rice crop at around 6.5m tons which would be higher by 20pc over last year’s production.

“This means that a huge quantity of four million tons will be available for export,” he added.

“Since rice exports to Philippines have begun this year, a substantial increase in export of non-basmati rice will be made because it is a staple diet of the people of Philippines,” he said.

Ghouri disclosed that this month a rice delegation from Philippines is due to discuss modalities of the trade protocol signed between the two countries in Geneva early this year.

“The Ministry of Commerce and Trade Development Authority of Pakistan (TDAP) helped sign the protocol under which Philippines is expected to import 250,000 tons rice from Pakistan this year,” he informed.

The Reap chief further stated that Philippines rice delegation’s visit to Pakistan is of great importance because ‘it is huge market for rice’.

He hoped that with this development, more rice markets will open up in the world for Pakistani rice.