Pakistan’s food exports surge by 18.88%, reaching $1.28 billion

WEB DESK: In the initial quarter of the fiscal year 2023–24, Pakistan experienced a noteworthy surge in food exports, marking an 18.88 per cent increase compared to the corresponding period in the previous year.

From July to September 2023, Pakistan’s food export industry displayed remarkable growth, with a total export value of $1.280 billion.

This substantial increase, up from $1.077 billion during the same period last year, is based on data released by the Pakistan Bureau of Statistics (PBS).

Rice exports, a vital component of the country’s agricultural exports, grew by 0.98 per cent. Pakistan exported 595,557 metric tonnes of rice, valued at $406.387 million.

Furthermore, exports of fish and fish preparations saw a rise of 3.75 per cent, with 37,803 metric tonnes of this commodity exported, totaling $83.064 million.

The fruit industry also experienced a significant boost, earning the nation $88.668 million. Approximately 155,776 metric tonnes of fruits were exported during this period, compared to 105,950 metric tonnes valued at $78.867 million in the previous year.

Leguminous vegetables, commonly known as pulses, showcased remarkable growth, with exports surging by 80.08 per cent.

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Over 96 metric tonnes of pulses, valued at $84,000, were exported, in contrast to 48 metric tonnes worth $47,000 in the same period last year.

Several other commodities also contributed to this positive trend. Spices saw a notable increase of 23.51 per cent, reaching a value of $23.759 million.

According to APP, the export of oil seeds and nuts experienced an extraordinary surge of 405.85 per cent, valued at $185.991 million.

Additionally, sugar exports doubled, with 33,1012 metric tonnes of sugar, worth $21.070 million, being exported during this period.

Conversely, the country experienced a significant decline in food imports during the initial quarter of the current financial year, marking a decrease of 32.00 per cent.

The total value of imported food commodities amounted to $1.85 billion, a substantial decrease from the $2.723 billion recorded during the same period in the previous year.