Rice exports dropped by 20.59% in the current fiscal year

Canada Global (Web News) There has been a decline in rice exports, and on a year-over-year basis, rice imports fell by 20.59% in the first eight months of the current fiscal year. The decrease in exports may cause problems for Pakistan’s dollar-starved economy.

State Bank of Pakistan (SBP) and Pakistan Bureau of Statistics (PBS) estimate that the exports from July to February brought in $ 1.321 billion for the nation. Exports of rice brought in 20.59% less money than they did during the previous year’s corresponding period.

The country’s exports were $ 146.66 million in February, down from $168.88 million in January and $ 258.49 million in February of last year, bringing in $ 2.760 billion for the entire fiscal year.

In the first eight months of the current fiscal year, basmati rice exports brought in $379.47 million, according to figures.

Moreover, exports of rice other than basmati totaled $941.88 million, a 17.91% decrease from the previous year. The same period the year before brought in $1.110 billion from exports of nom-basmati rice.

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