Pakistan’s rice exports remained subdued in the first half of the current fiscal year (1HFY21) due to low prices offered by India for non-basmati and issues of higher freight and shipments from October 2020 amid the Covid-19 pandemic.
According to a report by a local media outlet, the country’s overall rice export plunged by 10 per cent to 1.824m tonnes and 6.74pc in value to $963m in July-Dec FY21 as compared to the corresponding period in FY20.
Out of total exports, the share of basmati exports plunged by 38pc in quantity to 265,672 tonnes and 31pc in value to $262m while non-basmati exports fell by 3pc in quantity to 1.558m tonnes and 7.45pc in value to $700m in 1HFY21 as compared to the same period last fiscal.
Earlier on January 27, after formally opposing the Indian application for exclusive Geographical Indication (GI) tag for Basmati, Pakistan finally registered the variety as its GI product in order to protect its trade in the international market whereas on February 5, REAP filed the Reasoned Statement in opposition to India’s claim on the GI tag.
Hearings in DG Agriculture of European Commission will commence after a period of three months.
