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Pakistan To Discuss Rice Exports With Kenya

Rice is the staple food of many countries. It is widely used in a variety of dishes. The Asian nations are the leading producers of rice in the world. Owing to favorable weather conditions and fertile soil, Asian countries like India and Pakistan are the leading Rice Exporters around the world.

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Pakistan To Discuss Rice Exports With Kenya

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  1. Pakistan To Discuss Rice Exports With Kenya Rice is the staple food of many countries. It is widely used in a variety of dishes. The Asian nations are the leading producers of rice in the world. Owing to favorable weather conditions and fertile soil, Asian countries like India and Pakistan are the leading Rice Exporters around the world. Speaking specifically of Pakistan, the Asian nation ranks amongst the top ten rice producing countries in the world. The statistics revealed the fact that Pakistan generates around 8.9 million tonnes of rice on an annual basis. Out of the produced volume, only 4 million tonnes is consumed domestically and the rest is exported across the globe. At present, Pakistan is eyeing to strike a trade agreement with Kenya under the Barter system, where it exports rice in return of tea. Pakistan’s white rice as well as basmati rice remains in high demand globally. Kenya is one amongst the many countries that imports rice from Pakistan.

  2. During 2021, the export of rice from Pakistan to Kenya was US $120.49 million. That accounted for almost 70% of Pakistan’s total export to Kenya. Kenya’s Agriculture Minister On A Visit To Pakistan Kenya’s agriculture minister who is currently on a visit to Pakistan will meet Naveed Qamar, the Minister of Trade of Pakistan on 27th of February to discuss concerns regarding export of rice. According to ProPakistani, the Kenyan Agricultural Minister would also discuss tea import difficulties faced by Pakistan. Rice is a key product exported from Pakistan to Kenya, whereas Islamabad purchases tea from Kenya. In 2022, Pakistan’s exports to Kenya totalled $282 million, while imports stood at $500 million. The Pakistan Tea Association (PTA) earlier issued a warning about tea shortage in the nation. According to sources, the PTA has requested that the Governor of the State Bank of Pakistan handle difficulties with bank papers. PTA organizations are experiencing difficulties clearing their documentation owing to dollar shortages in banks and are not able to discharge tea containers. PTA informed Governor SBP, resulting in a scarcity of tea and a direct impact on impoverished people’s society. According to the PTA, commercial banks are failing to register letter of credit (LC) paperwork, preventing shipments from being issued. Furthermore, importers are losing money since they are paying $120 in demurrage costs to shipping providers on a daily basis. Tea prices have recently risen to from Rs. 1,100 per kg to Rs. 1600 per kg because of the non-opening of LCs, and if such issues are not handled, tea prices may rise higher in the domestic market. The Bottom Line Pakistan is one among the top exporters of rice and Kenya is the major importer of Pakistan’s rice. The agriculture minister of Pakistan was planning to conduct a meeting with the agriculture minister of Kenya to sign an agreement where it imports tea from Kenya in return for rice.

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