Pakistan earns $394m more from rice export

KARACHI - Pakistan earned $394 million more from the export of the rice during nine months (July-March) of the current financial year 2008-09. The total export of rice increased to $1.339 billion in nine months of current fiscal year 08-09 against $945m of same period of last fiscal year 07-08. Rice is the dominated food staple in exportable food commodity and it has importance in the exports commodities as country earns significant foreign exchange every year. Though, the export of the rice has increased during nine months over same period of last year as history making prices of the commodity in international as well as in local market had encouraged the growers who switched over to rice even in cotton growing-areas. Due to attracting prices, the growers and exporters were eying of over 6m tons production in current crop season of FY2008-09 but emergent fall of rain had badly impacted on production and yield of the crop in the country. Resultantly, the output of the crop reduced to 5.6m tons in current season of FY2008-09. Official statistics showed that the exports of food group has increased to $2.112b during nine months of this fiscal over $1.632b of same period of last fiscal year. According to official statistics, at least $210m decline had been observed in textile exports during nine months of current fiscal year as total exports of the sector reached to $7.498b during July to March of FY2008-09 against $7.708b over corresponding period of last FY2007-08. The exports of cotton cloth increased to $1.616b against $1.615b. The bed wear exports increased to $1.153b against $1.070b and towels exports increased to $417m. Meanwhile, a nominal decline was observed in the exports of cotton yarn as its earning was recorded at $764m against $905m. Similarly, the knitwear exports remained same at $1.590b.

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