Pakistan Removes MEP On Non-Basmati Rice

The Pakistani government has removed a minimum export price of $750 PMT on non-basmati rice to boost shipments of the grain amid an increase in output.

The minimum export price for Irri-6, a non-basmati variety and the country's cheapest rice, mainly exported to East and West African countries. A top industry official said last week that after the lifting of minimum export price, Pakistani exporters were likely to offer Irri-6 at between $400 and $450 PMT, FOB.

Rice production in Pakistan is expected to increase 27% to 7 million MT up from 5.5 million MT a year ago.
 
Pakistan's rice exports jumped 50% to 3.2 million MT in the first half of 2008 as one of its main competitors, India, imposed curbs on the overseas sale of the grain.