Pakistan becomes third largest rice exporting country

[LahoreEstate]

RECORDER REPORT
KARACHI (June 22 2009): Pakistan has become the third largest rice exporting country in the world. Although Pakistan is the 12th largest rice producer in the world, however, due to best marketing and value addition, the country has achieved this position in the international markets, Syed Muhaibullah Shah, Chief Executive of TDAP while speaking at a dinner in his honour hosted by Rice Exporters Association of Pakistan (REAP) at a local hotel on late Friday evening said.

He pointed out that country's rice exports remained the second largest foreign exchange earner for the country after cotton. "This is a great achievement and country's rice sector achieved this position despite global recession, financial crunch and a very tough price competition in the international markets," he added. He said that the rice exporters adopted best strategy and explored new markets all over the world.

He advised the rice exporters to focus more on Asian and African markets to increase their exports. He pointed out that purchasing power in Asia is increasing and these markets could be more attractive for rice exports in future. "We should also focus the African markets, which have huge potential for our commodities mainly for rice exports", he added.

He said that TDAP will fully cooperate with REAP to achieve the $4 billion rice export target under Vision 2012. Abdul Rahim Janoo, Chairman REAP said that the country's rice exports have touched $1.96 billion mark on June 19, 2009 and it is expected the figure will cross $2.1 billion mark by the end of this fiscal year.

He pointed out that the rice exports was the only sector, which continued its positive growth during the fiscal despite various issues and challenges including global recession, financial crunch, bumper crop in all rice producing countries and price competition in the world markets. "Our rice production is almost the same, however, we earn more foreign exchange every year due to 18-20 percent value addition every year", he said and expressed his hope that the country's rice exports will touch the $4 billion mark under Vision 2012.

He was not satisfied over the performance of rice research institutes and proposed to privatise both the rice research institutes for increasing their performance.

He said that the prevailing power crisis in the country and government intervention in rice trade affected rice trade negatively. Safdar Mehkari, a leading rice exporter said on this occasion that rice export is the only sector that is growing without having any subsidies. Although REAP is very young trade body as compared to others, however, it has become the second largest foreign exchange earners for the country.

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