ISLAMABAD: Exports of raw food items surged 21.73 per cent to $2.36 billion in July-October from $1.94bn in the corresponding period last year, according to data compiled by the Pakistan Bureau of Statistics.
In FY24, the raw food exports touched $8bn, up from $5.8bn in the preceding year.
As a result, consumers nationwide are paying higher prices for food items because of supply and demand gaps. Raw food exports have risen for the past 15 consecutive months despite unprecedented food inflation in the country’s history.
In the first four months, sugar exports reached 187,247 tonnes, compared to 33,101 tonnes in the same months last year, showing an increase of 413.46pc. Millers have mainly exported sugar to Afghanistan.
Pakistanis have to pay unprecedented prices for rice, meat
Rice has played a significant role in boosting overall food exports. In the first four months of FY25, rice exports surged by 52.53pc year-on-year to $1.08 billion. Notably, the quantity of basmati rice shipments rose by 47pc and its value by 66pc.
Exports of non-basmati rice increased 55.11pc in value and 47.78pc in quantity in 4MFY25.
This surge is attributed to Pakistan’s strong performance in the EU, Africa, the Asean region, and GCC countries, coupled with fixing the minimum export price and enhanced compliance with sanitary and phytosanitary standards.
Due to a sustained surge in export figures over the past two years, the average price of basmati rice has surged to Rs400 per kg from Rs150, restricting buying from domestic consumers.
Meat exports increased by 4.67pc in 4MFY25 compared to the corresponding period of the previous year. The opening of new markets, participation of new companies in meat exports and approvals for additional slaughterhouses have contributed to this growth.
Meat prices in the domestic market have experienced an unparalleled surge in recent years. In the past three years, the average cost of buffalo meat has jumped from Rs700 per kg to Rs1,400. The price of chicken has also experienced an unprecedented surge, reaching its highest level over the last three years.
Exports of vegetables, especially onions, have recorded growth of 36.74pc in July-October FY25 from a year ago. The export of fruits increased by 7.02pc during the months under review.
Published in Dawn, November 19th, 2024
