THE BUSINESS OF INTERNATIONAL TRADE
THE BUSINESS OF INTERNATIONAL TRADE
Pakistan's rice exports have surged to a record high following India's recent ban on rice sales. The unexpected move by India, one of the world's largest rice exporters, has opened up significant market opportunities for Pakistani exporters. Data from Pakistan's Ministry of Commerce reveals that rice exports increased by 25% in June 2024 compared to the same period last year. Major importing countries, including Middle Eastern and African nations, have turned to Pakistan to fill the gap left by India.
Industry experts attribute this spike to Pakistan's quick response to increased global demand, coupled with favourable harvest conditions. This record export level is expected to boost Pakistan’s agricultural sector and contribute significantly to the country’s foreign exchange earnings.
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