Rice Production Hits Record High in 11 Months of FY24

Pakistan’s rice production was recorded at 9.9 million tons in the eleven months that ended on May 31, 2024 (11MFY24), data by Ministry of Finance revealed on Sunday. According to Topline Securities, rice production is at an all-time high at this level. Also, this helped the country generate $3.6 billion (highest in food group) through the export of 5.59 million tons of rice in 11MFY24, marking an increase of almost 60 percent compared to the same period the previous year. It bears mentioning that Pakistan is taking advantage of trade restrictions imposed by India by selling record amounts of rice on the international market. The surge in rice exports comes after India decided to place export restrictions on specific types of rice last year following a turbulent monsoon season that disrupted production and raised concerns about potential supply shortages.