Rice export likely to pick up

Published February 4, 2003

KARACHI, Feb 3: The rice trade was slow on low export demand during the past week, but the market may pick up given Indonesian interest in Irri-6 variety, traders said on Monday.

“The market is slow but it may wake up in the coming weeks as Indonesian buyers are placing orders for Irri-6,” said a rice exporter, Haji Majeed, here.

Majeed said exporters had already booked cargoes of around 25,000 tons of Irri-6 rice to Indonesia and they also have confirmed orders of another 30,000 tons. Traders reported scattered export shipments to some destinations.—Reuters