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Rice export
falls by 20pc during 9 months
KARACHI-The country's rice export
has declined by 20 per cent or $67.1 million to about $266.68
million during the first nine months of the current fiscal
year. According to statistics, Pakistan's rice export was
estimated at $333.68 million during July-March 2000-2001.
In volume, rice export dropped by 29.75 per cent or 428,317
metric tons to 1.011 million tonnes during July-March
2001-2002 against 1.439 million tonnes during the same period
last year. A leading exporter told APP here on Monday that
rice export had declined due to appreciation of the rupee
against world's most currencies and shortage of Irri-6 and
Basmati varieties in the local market.
He said that appreciation in the local currency had been
making Pakistani exporters uncompetitive against rice
exporting nations such as Burma, Vietnam and India.
"Pakistan's Irri-6 rice was quoted at $149 a tonne while India
was selling at $130 and Burma at $121 a tonne", he pointed
out.
He said there was demand for Irri in the market but the
domestic prices were making exporters uncompetitive in the
world market. He said that about 600,000 tonnes were stocked
by the millers in anticipation of high prices. The export of
Irri-6 showed a shortfall of 429,531 tonnes to 597,463 tonnes
during nine months of the current fiscal, compared to 1.026
million tonnes during the same period last year. Pakistan
fetched an average price of $154 a tonne for Irri-6 during the
period under review.
However, the export of Basmati (PK-385) and Super Basmati rose
by 10.32 per cent or 26,366 tonnes to 290,761 tonnes till
April 1, 2002 compared to 255,385 tonnes during the same
period last year. The average price for Basmati was $392.75 a
tonne and $569.62 a tonne for Super Basmati. Pakistani rice
exporters, already losing markets because of a rising rupee,
fear falling production will cut rice exports by half in the
space of two seasons, an industry official said.
Rahim Janoo, chairman of Rice Exporters Association of
Pakistan, told Reuters the government estimates of a domestic
crop of 3.5 million tonnes in 2002/03 (July-June), would slash
exports by at least 50 per cent from the 2000/01 level. "The
estimate of 3.5 million tonnes for the next season crop is
very alarming. Local consumption is 2.3/2.4 million tonnes,
which means we will have only one million tonnes of rice
available for export in the 2002/03 season," Janoo said. Tax
relief was needed to assist Pakistani exports in the face of
cheaper, subsidised Indian rice, he added in a weekend
interview.
courtesy Daily The News, 2
April, 2002
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Pakissan.com;
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