Islamabad July 18 2024: During Fiscal Year 2024, Pakistan’s rice exports surged to a record high of USD 3.9 billion, marking an 83 percent increase from the previous year’s USD 2.1 billion.
This significant rise also saw export volumes reach an all-time peak of 6.0 million tons, a 62 percent YoY increase from 3.7 million tons.
The boost in exports was driven by increased production this year and benefited from India’s government imposing a ban on rice exports, allowing Pakistani rice to capture a larger market share.
In Fiscal year 2024, which runs from July to June, rice production in Pakistan rose by 34.8 percent to 9.9 million tons compared to 7.3 million tons the previous year. This increase was supported by a significant expansion in cultivation area, which grew by 22.2 percent to 3.6 million hectares from 3.0 million hectares.
