Pakistan rice exports hold steady as the country’s currency devaluation against the dollar continues, according to a Dec. 19 Global Agricultural Information Network report from the U.S. Department of Agriculture (USDA).
Pakistan’s rice exports hit a record of 4.5 million tonnes during market year 2018-19, “the continuing devaluation of the Pakistani rupee against the dollar, down 40% since December 2017, is helping maintain the export momentum,” the report said.
Favorable weather in rice producing areas sets the USDA’s market year 2019-20 rice production estimate at 7.5 million for Pakistan.
The country’s wheat production and exports for 2019-20 remain unchanged.
The USDA estimates Pakistan’s market year 2019-20 wheat production at 24.1 million tonnes while the country’s government has set a production target of 27 million tonnes for the 2019 winter crop due to be harvested in April – May 2020.
Reports gathered by the USDA suggest Pakistani farmers have completed sowing of wheat and good spells of rain across the wheat producing areas in November and December helped in the sowing and germination of the wheat crop