Unfettered by government intervention or an export ban, Pakistan rice exports surged in MY 2007/08 to an estimated at 4.2 million metric tons, positioning Pakistan to overtake the United States as the world's third largest exporter of rice, according to a U.S. Department of Agriculture attache report posted Wednesday on the Foreign Agricultural Services Web site.
Access to last season's strong international prices encouraged farmers to move additional planting area to rice, and as a result, MY2008/09 rice production is estimated to reach a record 6.3 million tons.
In light of this year's bumper crop and the softening of international prices, the Government of Pakistan has announced its intention to purchase one million tons of domestic paddy in an effort to support local prices. The trade is wary of any government intervention in this highly successful, private-sector led market and has responded cautiously to the government's rice procurement scheme.
RICE Production
Based on Government of Pakistan (GOP) data, Post's estimate of MY 2006/07 rice production was increased (5 percent) to 5.45 million metric tons (MMT), the MY 2007/08 production estimate was increased (4 percent) to 5.7 MMT, and the MY 2008/09 estimate increased by (12.5 percent) to a record 6.3 MMT. An expansion in area planted to rice coupled with timely rains and reduced pest activity contributed to this year's record crop production level.
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