RICE exporters of Pakistan are having a field day due to the Indian government's ban on the export of non-basmati white rice to the international market.
On July 20, the Indian government banned exports of non-basmati white rice to boost domestic supply and keep retail prices under check during the upcoming festive season.
Non-basmati white rice constitutes about 25 per cent of total rice exported from the country.
Pakistan rice exporters association chairman Chela Ram Kewlani said that the ban on non-Basmati white rice export by India has led to an increase in the export orders for Pakistani firms.
“There is a big demand for Pakistani rice in the global market after India placed restrictions on the export of non-basmati rice. International buyers are now turning towards Pakistani exporters,” said Kewlani.
This year, Pakistan is expected to export rice worth over £2.4 billion, he said, adding that the price of basmati rice has risen by £79 per ton.
“Before India's ban on the export of non-basmati white rice, the price of Pakistani non-basmati rice was £354 per ton, but now, in the international market, it has increased to £393 per ton. The price may even reach £472 per ton depending on the quality," he said.
Besides increasing demand from the US, the UK and other European countries, Russia has also shown keen interest in purchasing 5 million tonnes of rice from Pakistan, Kewlani said.
“We are in negotiations with 27 Russian companies for the export of non-basmati rice. Furthermore, talks are in progress for the acquisition of Pakistani rice by Mexico as well," he said.
Kewlani said Indian non-basmati white rice was in great demand in the global market, which is why the ban has helped Pakistani exporters.
(PTI)
