Pakistani rice exports decline, global prices decrease by fifty percent as India re-enters the market.

During the initial six months of the current fiscal year, Pakistan’s rice exports have diminished, resulting in a roughly 50% decrease in global prices, as disclosed in a briefing by a National Assembly standing committee.

During the National Assembly Standing Committee on Commerce, Javed Hanif emphasized that exporters have obtained PKR 15 billion from the Export Development Fund (EDF).

He scrutinized the permissions issued merely two days before to the establishment of the new board, observing that rice shipments had already diminished during the first half of the fiscal year.

Authorities said that both the volume and international pricing of Pakistani rice had declined markedly.

The global surge in rice output and India’s reinstatement of exports, following a pause in 2023-24, contributed to the market decline. The price disparity between Pakistani and Indian rice reached nearly $20 per unit in global markets.

Pakistan presently possesses rice stockpiles valued about $2 billion. It was disclosed that stockists utilized real estate resources to acquire rice, while exports to Iran comprised both basmati and non-basmati kinds.

The committee was informed that financial assistance from the EDF had been allocated expressly for rice exporters—a hitherto excluded sector—providing relief akin to the recurrent support formerly granted to the textile industry.

The briefing emphasized that the interplay between India’s market re-entry, domestic export difficulties, and governmental support initiatives has influenced the present dynamics of Pakistan’s rice sector.