Arsalan Ali

Pakistan's agro-food sector exports increased by 23% to $5.4 billion in the fiscal year 2021-22 from $4.4 billion in fiscal 2020-21, contributing 17% to the country’s total exports during the year, reports WealthPK.

According to the latest report released by the Trade Development Authority of Pakistan (TDAP), agro-food sector exports totalled $1.47 billion during the fourth quarter (Q4) April-June of FY22, representing a 38% increase over the same period of FY21. Exports of rice, fish and fish products, tobacco, spices, meat and meat products increased by 50%, 10%, 36%, 7%, and 6%, respectively, during the Q4 of FY22 compared to the same period of FY21.

The report shows that agro-food sector exports fell by 1% during the Q4 of FY22 compared to the year’s Q3 (Jan-March). Exports of rice, fruits, vegetables, spices and oilseeds saw a decline during the quarter. Fruits, vegetables and oilseeds-nuts-and-kernels witnessed negative growth of 18%, 7% and 10%, respectively, during the Q4 of FY22.

Basmati rice exports performed admirably well in the fourth quarter of FY22. China, Kenya, the United Arab Emirates, Afghanistan and Saudi Arabia were Pakistan's main rice export markets. Pakistan's earnings from rice exports to Saudi Arabia and the UAE accounted for roughly one-fifth of total rice export earnings in FY22, the TDAP report said, highlighting that depreciation of the Pakistani rupee against the US dollar improved the competitiveness of Pakistani rice in global markets.

According to the TDAP report, Pakistan is the world's ninth largest rice producer, with annual volumes exceeding 8 million tonnes. Its annual rice production in 2021-22 was 9.3 million tonnes. The country is the fourth largest exporter of semi-milled rice in the world. The government also supports the rice sector by helping with rice variety research and extension services as well as promoting Pakistan-branded basmati in international markets.

The report showed that during the fiscal year 2021-22, Pakistan's exports of fish and fish products increased by 4% to $430.7 million in FY22 compared to $414.6 million in FY21. It said Pakistan exported a total of $121 million worth of fish and fish products during the Q4 of FY22, representing a 10% growth year-on-year. It highlighted that exports of fish products to China increased under the second phase of the China-Pakistan Free Trade Agreement.

The report said fruit and vegetable exports to Afghanistan decreased by 18% and 7%, respectively, in FY22 because of serious transportation and logistics issues caused by insecurity in that country. According to the report, Pakistan exported no wheat during last fiscal year.

Independent News Pakistan-Wealthpk