Pakistan’s raw food exports surged by 13.83% to $3.96 billion during the first half of the fiscal year 2024-25, compared to $3.48 billion in the same period last year, largely driven by a significant increase in rice shipments.
Data from the Pakistan Bureau of Statistics highlighted that rice exports, a major contributor to the food export sector, saw a 14.50% year-on-year rise to $1.87 billion in value. The volume of basmati rice exports grew by 30.62% to 416,491 tonnes, with its value increasing by 18.06% to $433.82 million. Non-basmati rice exports also climbed 13.47% in value to $1.44 billion and 17.35% in quantity to 2.643 million tonnes.
The opening of new markets, including Bangladesh, further fueled this growth, while established markets in the European Union and the UK continued to show strong demand.
Despite this export boom, domestic consumers are grappling with record-high prices for essential food items. Over the past two years, sustained export growth has pushed the average price of basmati rice from Rs150 per kilogram to Rs400, making it increasingly unaffordable for local buyers.
Other food exports also contributed to the overall growth. Sugar exports soared to 632,804 tonnes in July-December FY25 from just 33,101 tonnes in the same period last year. Meat exports grew by 3.64%, bolstered by new markets, increased participation of exporting companies, and the approval of additional slaughterhouses.
However, this expansion came at a cost for domestic consumers, with buffalo meat prices doubling from Rs700 per kilogram to Rs1,400 over the past three and a half years.
Vegetable exports, including onions, recorded a modest growth of 1.71%, while fruit exports declined by 1.32% in the first half of the fiscal year. Fish and fish product exports posted marginal growth of 1.47%.
While the export sector’s growth underscores Pakistan’s potential in global markets, the resulting price hikes in local markets reflect the delicate balance between boosting exports and meeting domestic demand.
