India’s imposition of a ban on non-basmati rice exports has resulted in a significant surge in the demand for Pakistani rice in the global market. As a consequence, Pakistan is expected to export rice worth more than 3 billion dollars this year, with the price of basmati rice escalating by 100 dollars per ton.
Before the ban, Pakistani non-basmati rice was priced at $450, but now it has reached $500 in the international market. The Chairman of the Rice Exporters Association, Chillaram, believes that the price of Pakistani non-basmati rice, renowned for its high quality, could potentially reach $600.
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Furthermore, this year, Russia has shown interest in purchasing 5% of its rice from Pakistan, with 27 Russian companies engaging in the procurement of non-basmati rice from the country. Additionally, ongoing negotiations with Mexico for the purchase of Pakistani rice signify the increasing global demand for this commodity.
