The recent ban on rice export by India has led to a surge in demand for Pakistani rice in the global market. With India restricting the export of non-basmati rice, international buyers are turning towards Pakistani rice to meet their needs.
Chairman of the Rice Exporters Association, Chillaram, reported that this year, Pakistan is expected to export rice worth more than 3 billion dollars, and the price of basmati rice has risen by 100 dollars per ton.
Prior to the ban on Indian rice, the price of Pakistani non-basmati rice was $450, but now, in the international market, it has escalated to $500. Chillaram predicts that with the commendable quality of Pakistani non-basmati rice, the price may even reach $600.
In addition to the increase in demand from various countries, Russia has also expressed interest in purchasing 5 million tons of rice from Pakistan. Negotiations with 27 Russian companies are underway for the purchase of non-basmati rice. Furthermore, talks are in progress for the acquisition of Pakistani rice by Mexico as well.
The ban on Indian rice exports has presented a significant opportunity for Pakistani rice exporters, leading to a substantial boost in their presence in the global rice market.
