[🇵🇰] Pakistani Export News

[Ghazi52]

Rice exports grow 98.5pc in 2 months​

The APP
Sep 29, 2024

Rice exports from the country during the first two months of the current financial year increased by 98.58 per cent as compared to the exports of the corresponding period of the last year. During the period from July-August, 2024, over 340,703 metric tons of rice valued at $464.667 million was exported as compared to the exports of 340,703 metric tons worth $233.992 million in the same period of last year.

The exports of basmati rice grew by 103.63 per cent as 187,016 metric tons of basmati rice worth $192.610 million was exported as against the exports of 79,180 metric tons valued at $94.590 million in the same period of the last year. During the period under review, the country earned $272.057 million by exporting about 430,045 metric tons of rice of other verities, which was recorded at $135.402 million in the first two months of the last year.

Meanwhile, the food group imports into the country experienced a significant decline of 18.15% during the first two months of the current financial year as compared to the imports of the corresponding period of the last year.

From July to August 2024, Pakistan imported various food commodities valued at $1.066 billion, down from $1.303 billion during the same of last year, whereas the food group exports from the country during the period under review grew by 42.39 per cent as compared to the exports of the corresponding period of the last year.

During the period from July-August, 2024, food commodities valued at $1.011 billion were exported as against the export of $710.651 million in the same period of the last year, according to the data of the Pakistan Bureau of Statistics.

 

[Ghazi52]

Pakistan, Russia ink barter deal to boost agri trade​

Reuters
October 2, 2024

MOSCOW: Two agriculture companies from Russia and Pakistan have signed barter deals to trade chickpeas and lentils from Russia in exchange for rice, mandarins and potatoes, Russia’s TASS news agency reported on Tuesday.

Grappling with payment issues due to Western sanctions over Russia’s invasion of Ukraine in February 2022, Moscow is pursuing barter deals that strip away the need for payment exchange, reduce the visibility Western countries have over its trade flows, and limit currency risk.

Russian firm Astarta-Agrotrading agreed to supply 20,000 tonnes of chickpeas in exchange for 20,000 tonnes of rice from Pakistan’s Meskay & Femtee Trading Company, TASS reported.

Under another contract, Astarta agreed to supply 15,000 tonnes of chickpeas and 10,000 tonnes of lentils for 15,000 tonnes of mandarins and 10,000 tonnes of potatoes.

The two companies did not immediately respond to requests for comment.

“Russia and Pakistan are experiencing specific difficulties in carrying out mutual payments,” TASS quoted a Pakistani official as saying on the sidelines of a Pakistan-Russia trade forum in Moscow. “Therefore, the two companies decided to launch a barter trade mechanism.”

Payment issues are a particular issue for Russia with China, as bilateral trade soars. Sources told Reuters in August that the first agriculture barter deals between Russia and China would come this autumn. Russia’s economy ministry published a document in February advising Russian companies on how to conduct barter transactions and pointing out pitfalls to avoid.

A source in payment markets told Reuters that barter deals with China were now taking place, but at the level of individual companies.

Published in Dawn, October 2nd, 2024

 

[Ghazi52]

Pakistan mulls lifting ban on livestock export​

Kalbe Ali
October 6, 2024

With livestock population steadily increasing, Pakistan has been receiving supply orders, especially for sheep and goats, from different countries.—Dawn/file
https://whatsapp.com/channel/0029VaMc238IiRov8okfYy3n
ISLAMABAD: Pakistan is likely to lift the ban on the commercial export of sheep and goats imposed more than a decade back, mainly responding to the demand from Gulf countries.

The Ministry of National Food Security and Research (MNFSR) has finalised the summary in this regard and sought permission from the federal cabinet to undo the decision taken in 2009.

The Executive Committee of the Special Investment Facilitation Council (SIFC) has considered the matter and agreed to lift the ban on live animal export. According to the summary, several domestic investors have already started small- to medium-scale feedlot fattening farms, which are expected to create a surplus of goats and sheep in the coming years.

“The MNFS&R has also approached various countries for investment in feedlot fattening farms of small and large ruminants, and serious interest has been shown by Saudi Arabia, Kuwait and the UAE,” it added.

SIFC has already given its consent amid high demand from Gulf countries

The summary highlighted that the agriculture sector contributes around 24 per cent to gross domestic product. The livestock sector accounts for 60.84pc of the agricultural value added and 14.5pc GDP during 2023-24.

The summary said that animal husbandry remains an important economic activity for rural dwellers, with over 8 million families engaged in livestock production and deriving around 35-40pc of their income from the sector.

In 2023-24, Pakistan’s diversified inventory of food-producing animals stood at 224.7 million heads, including 57.5m cattle, 46.3m buffaloes, 32.7m sheep, 87.00m goats and 1.2m camels and produced a total quantity of around 70m tonnes of milk and 3.447m tonnes of meat including 2.630m tonnes of beef and 0.917m tonnes of mutton besides 2.363m tonnes of poultry meat.

Previously, the export of live animals was permitted with the approval of the Economic Coordination Committee of the Cabinet (ECC) in 2009. However, smuggling through the porous border, mainly with Afghanistan, led to its local shortage, and the government observed that it was creating domestic price instability.

The summary added that to ensure price stability in the domestic market and considering the demand and supply chain, a ban was imposed on the commercial export of live animals with the approval of ECC in July 2013. The complete ban on commercial export of live animals remained enforced.

The summary also noted that with effective anti-smuggling measures and border fencing, the demand and supply situation has improved, resulting in the stability of the price of mutton.

Published in Dawn, October 6th, 2024

 

[Ghazi52]

KARACHI: Despite surging domestic prices, the country exported record 100,194 tonnes of meat and meat preparations in FY23 exceeding the previous peak of 95,648 tonnes recorded in FY21.

As per data issued by the Pakistan Bureau of Statistics (PBS), the country earned foreign exchange of $427 million in FY23 versus $331m in FY21. The exporters fetched an average per tonne price (APT) of $4,258 as compared to $3,467 in FY21.

The exports rose 30pc in quantity and 25pc in value when compared with 76,868 tonnes ($341m) in FY22 at an APT of $4,436.

Meat dealers continued to blame higher exports as one of the main reasons for pushing up domestic prices.

As per data from the Sensitive Price Index (SPI), beef with bone (average quality) price is now tagged at Rs600-1,050 per kg against Rs400-700 per kg during June 2021.

The national average price of mutton (average quality) swelled to Rs1,400-2,000 per kg from Rs810-1,350 in June 2021.

In the last 12 years, meat-related exports remained in the range of 56,000-85,000 tonnes.

“Linking increase in local meat prices to exports is a misconception created by the market retailers as 100,000 tonnes of exports is just a consumption of 10 days in Pakistan,” CEO PK Livestock, Saqib Butt told Dawn on Saturday.

The meat exports have reached a saturation point rather than showing any significant jump in the last two years, he said, adding that they can rise manifold if we target Iran and Afghanistan through legal channels.

He said new markets like Egypt have emerged in the last one to two months while exporters are also exploring Jordan and Malaysia.

Mr Butt said Pakistani exporters struggling to compete with African countries as they offer competitive prices for shipments to the Middle East.

He said countries like Somalia, Ethiopia, Tanzania and Kenya have set up slaughterhouses in the Middle East where Pakistan exports 98pc of meat and meat preparations out of its total shipments. These countries are giving quite a tough time to local exporters.

In case exporters could not tap new markets like Iran, Afghanistan, Malaysia, Egypt and Jordan then exports are unlikely to record any major boost in FY24, he feared.

He said high food inflation has hit the buying power of people and meat consumption is going down. “I observed that the number of animals slaughtered this year during Eidul Azha is lower than last year due to squeezing purchasing power of people,” he added.

Contrary to this, the Economic Survey FY23 says that cattle, buffalo and goat production soared to 55.5 million, 45m and 84.7m during FY23 from 51.5m, 42.4m and 80.3m in FY21. Beef and mutton production rose to 2,544,000 tonnes and 799,000 tonnes in FY23 from 2,380,000 and 765,000 tonnes in FY21.

 

[Ghazi52]

Pakistan earns $4bn in rice exports in 2024, sets target of $5bn for next year​

The Nation
Oct 14, 2024

The Special Investment Facilitation Council (SIFC) has played a pivotal role in helping Pakistan achieve a historic milestone, with rice exports generating $4 billion in revenue.

According to SIFC official Shahjehan Malik, the target for rice exports in the next fiscal year has been set at $5 billion. Malik emphasized that a comprehensive strategy will be developed, focusing on modern seed research and the promotion of standardized agricultural practices to boost exports further.

Pakistan’s Basmati rice, renowned for its high quality, has been instrumental in fostering global partnerships. During the 2024 fiscal year, the country exported over 6 million tons of various rice varieties.

In addition to rice, Pakistan's overall goods exports saw a significant boost, increasing by 10.54% to $30.64 billion compared to the previous year. While exports surged, imports slightly declined by 0.84%, dropping from $55.19 billion to $54.73 billion, signaling positive economic growth.

One of the standout achievements was the 20% rise in meat and meat product exports, reaching a record high of $512 million. The SIFC and the Ministry of Commerce were instrumental in opening new markets for meat exports in countries such as Jordan, Uzbekistan, Lebanon, and Egypt.