Thailand: Traders eye Thai rice for re-export

In the wake of unprecedented hike in price of rice in the domestic market, some traders are interested in importing rice from the international market particularly from Thailand for re-export after value-addition.

It may be noted that rice can be brought into Pakistan from all rice-producing countries except India after paying 10 per cent import duty at customs. Currently, diplomats besides some Chinese and Japanese living in Pakistan import rice, which is declared fit for human consumption by authorities.

In 2005-06, Pakistan produced 5.6 million MT of rice, of which 3.3 million MT were exported. Domestic consumption was 2.3 million MT. This year, the country is expected to produce 5.4 million MT.