Pakistan experienced a substatila suge in the rice exports in 2018. An increase of 22.14 percent compared to 2017. In terms of quantity, the rice exports has increased 2.67 metric tons from 2.334 million metric tons in 2017, which shows an increase of 11.48 percent.
Overview of Food Industry
Pakistan has experienced a substantial improvement during the year 2018. Pakistan has exported food products worth USD 2.395 million in 2018 which is an 18.8 percent increase in comparison to 2017. In 2017 the food exports of Pakistan were USD 2.016 billion.
With the ban on the Indian basmati rice in Europe, Pakistan has the opportunity to increase their rice exports to the European countries. If Pakistan is able to capitalize on this opportunity, the export of rice can be increased to an unprecedented level. Food commodity imports in Pakistan are also on the rise. The imports of food in Pakistan grew by 9.77 percent that is USD 3.77 billion in comparison to 2017 which was USD 3.44 billion.
As per the Pakistan Bureau of Statistics, in 2018 the food exports went up by 28 percent to USD 3.43 billion from USD 2.68 billion in 2017. Sugar, wheat and rice are the three main commodities that were responsible for the export sector for the increase in volumes of USD 750 million during 2018.
A 53 percent increment in earnings has been witnessed in vegetable exports and a modest 4 percent growth was witnessed in fruit exports. With such substantial growth, a 28 percent tremendous increase, in the food industry of Pakistan is all set to grow in times to come.
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