Business
Indian ban on rice export raises demand for Pakistani rice in global markets
The latest reports say that The price of basmati rice rose by $100 per ton in the international market, reaching $500, and it is projected to increase further to $600 per ton due to Pakistani rice's superior quality.
Karachi: The recent Indian government's ban on non-basmati rice exports on Tuesday drove a surge in demand for Pakistani rice worldwide.
With the ban in effect, Pakistan is expected to achieve record-breaking rice exports worth over $3 billion this year. The price of basmati rice rose by $100 per ton in the international market, reaching $500, and it is projected to increase further to $600 per ton due to Pakistani rice's superior quality.
This rise in demand presented a profitable opportunity for rice exporters. Besides it, 27 Russian companies were in talks to engage in transactions for non-basmati rice with Pakistani exporters, while discussions were also underway for the purchase of Pakistani rice from Mexico.
This growing recognition and preference for Pakistani rice in international markets showcase Pakistan as a reliable and quality-conscious rice exporter.