Business | Markets
Pakistan sets export price for some rice
Pakistan, the world's fifth-biggest rice exporter, set a minimum export price for some of the premium quality grains to boost local availability amid a global shortage of the commodity.
- Bloomberg
- Published: 00:11 May 4, 2008
Islamabad: Pakistan, the world's fifth-biggest rice exporter, set a minimum export price for some of the premium quality grains to boost local availability amid a global shortage of the commodity.
Companies can export super basmati at not less than $1,500 a metric tonne on a free-on-board basis, the commerce ministry said on its website.
The ministry set the benchmark export price for ordinary basmati rice at $1,300 a tonne, $1,000 a tonne for the IRRI-9 variety and $750 for IRRI-6.
Pakistan joins India, Vietnam, China and Egypt in restricting rice exports after prices threatened food security in some nations.
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