Pakistan grabs a deal to export rice in Russian Market

 Pakistan is currently the 4th largest exporter of rice globally. According to the Pakistan export data reports, Pakistan's rice exports were estimated around 2.5 billion dollars during the fiscal year 2022. The major destinations for the exports of rice from Pakistan were China, Kazakhstan, United Arab Emirates, Malaysia and Afghanistan. China covers over 17% of Pakistan's total rice exports. Basma Rice Mills, Nauman & Co, SF Commodities, Vatan Gujarati and Aftab Food industries are some of the leading rice exporting companies from Pakistan.

Although Pakistan is a prominent rice exporter, it is facing stiff competition from India, Vietnam and Thailand. On the other hand, Pakistan's rice imports for the fiscal year 2022 were recorded to be 48 million dollars. China held over 96% share of Pakistan's total rice imports. As per Pakistan import data, the United Arab Emirates, United States, Tanzania and India were the top suppliers of rice from Pakistan. 

There is good news for Pakistani rice exporters. Russia has granted 15 Pakistani mills to export rice to Russia. This could be a great boost to Pakistan's economy. Earlier, the Russian government had banned the imports of rice from Pakistan due to bad sanitary standards in 2019. Over the years, Russia and Pakistan trade relations have improved.

Currently, India is the leading exporter of rice in the world. As per India export data reports, around 21.5 million metric tonnes of rice exported from India during the financial year 2022. Thailand is the second largest exporter with over 8.2 million metric tonnes of rice exports during 2022. Other major rice exporting destinations are Vietnam, Pakistan, Burma, China, United States, Cambodia and Brazil.

Apart from that Pakistan has begun to import crude oil, natural gas and wheat from Pakistan for the first time. According to the market trends, Russia will export around 300 million metric tonnes of wheat to Pakistan in eight folds.

As per Pakistan import data reports, Russia exported around 501 million dollars worth of goods to Pakistan during FY 22. The most prominent imports from Russia to Pakistan are wheat, dried legumes like beans, peas, lentils, peanuts, iron, rubber and paper were the top exports.

Whereas per Pakistan customs data, citrus fruits, leather, fabrics, potatoes and cotton are the major exports of Pakistan to Russia. According to the Pakistan import export data reports, around 43 million dollars worth goods were exported from Pakistan to Russia.

Pakistani Suppliers can grab this amazing opportunity to excel their business in the Russian market.  Global import export data, a leading data service provider company offering meaningful insights into the Russian Market. Pakistan import export business owners can identify the Pakistani products demand in the Russian market, top importers, exporters, product pricing, quantity, port shipment records.

This will help you analyze growth opportunities in the Russian market. You will get verified leads from the Russian market and excel your sales revenue. Also, you can discover opportunities in other markets with import export data reports of over 60+ countries. It could take your business to the international market & establish your presence.