The demand for rice has seen a huge increase in the last few days due to a shortage of rice supply in the international market.
The main reason for the decrease in the supply of rice in the world is India. India has banned the export of rice due to which the supply of rice has decreased in the international market.
Due to this, the demand for Pakistani rice has seen a huge increase, which will also see an increase in the prices of rice in the local market of Pakistan.
Chairman Rice Exporters Association has said that Pakistan will export rice worth three billion dollars this year and the price of basmati rice will be higher than last year at $100 per ton.
He further said that when Indian rice was available in the market, the price of Pakistani Basmati was 450 dollars per ton, but after India imposed a ban on the export of rice, the price of Pakistani Basmati in the international market was even higher than 500 dollars per ton.
The Chairman of the Rice Export Association also said that due to the good quality of Pakistani non-basmati rice, its price will increase to $600 per ton and this year, five Russian companies are also buying non-basmati rice from Pakistan.
It is also being discussed that Mexico can also buy rice from Pakistan.