In a groundbreaking achievement, Pakistan’s rice sector has shattered records with exports soaring to an unprecedented $3.88 billion during the fiscal year 2024. This remarkable feat marks a staggering 78% increase in export value compared to the previous year.
According to latest data released by the Rice Exporters Association of Pakistan (REAP), the quantity of rice exported also saw a substantial rise of 60%, reaching 6 million metric tons. This surge in both volume and value underscores Pakistan’s growing prominence as a major player in the global rice market.
Former Chairman of REAP, Rafique Suleman, attributed this milestone to strategic marketing initiatives and opportune market conditions, including India’s export ban which bolstered Pakistan’s competitive edge and secured favorable prices internationally.
The achievement not only highlights Pakistan’s prowess in agricultural exports but also positions the country as a pivotal supplier in meeting global rice demands. Analysts anticipate continued growth and sustained momentum for Pakistan’s rice sector, driven by enhanced production capabilities and strategic market positioning.
This historic milestone not only augurs well for Pakistan’s economy but also underscores the resilience and potential of its agricultural sector on the global stage.
