Pakistan Seeking To Export Around 4 Million MT

According to Pakistan's Rice Exporters Association (REA), Chairman, Muhammad Azhar, due to good harvesting of rice, the country is likely to export its 21 % surplus output in the existing fiscal year.

He said that 4 million MT rice valued $3 billion would be exported during the current fiscal year. He said that the local market wholesale price of rice has dropped down by 30 percent, but the retailers were not passing on the benefit to the people by allowing corresponding price cut. Countrywide rice output this year is estimated at 5.5 million MT.