Pakistan: Exports Suffer Due To Hoarding

Rice exports from Pakistan are likely to fall sharply in the fiscal year ending June this year amid a surge in domestic prices mainly due to hoarding by middlemen and traders.

Pakistan has sold around 1.25 million MT of rice so far in fiscal year 2007-08 compared with an export volume of 2.9 million MT in 2006-07. Basmati rice accounts for about 500,000 MT of the total exports to date while the remainder is less expensive long-grain white rice.
 
In 2006-07, Pakistan exported 1 million MT of basmati and 1.9 million MT of long-grain white rice.
 
Pakistan is the world's fourth-largest exporter of the grain.