Pakistan 2017-18 rice output may exceed govt target.

Production of rice in Pakistan in 2017-18 is estimated to be 7.2% higher than the government’s target of 6.8 MMT. The country is estimated to have produced 7.3 MMT of rice in the current crop year. The higher production may be attributed to a revival in rice prices in international markets. According to FAO, export prices of basmati rice from Pakistan were 44.1% higher on year during Jan-Sep and averaged around $1,124 per MT. The average price of 25% broken rice was 6.5% higher on year at $353 per MT.