Pakistan: Hoarders Create Artificial Shortage

According to industry experts, rice hoarders in Pakistan are out to create an artificial rice shortage with the objective of raising its price even as the prices of all varieties have gone up by almost 100 % as compared to the corresponding period last year.

Rice is consumed as a major food item after wheat in the world, as well as in Pakistan. Rice is cultivated on irrigated land in Pakistan and it is an important Kharif crop. In Pakistan, the area under rice cultivation is the third largest after wheat and cotton crops.

Rice accounts for about eight percent of the total exports of Pakistan, while the annual domestic consumption of rice is about 2.3 million MT.