Agro, food exports surge 37.4pc in July-Sept

KARACHI: Exports of agro and food products rose 37.4 percent in the first quarter of the fiscal year 2023-24, compared to the same period last year, driven by strong demand and higher prices for sesame seed, maize, ethyl alcohol and meat, the Trade Development Authority of Pakistan (TDAP) said on Wednesday.

The country exported agro and food products worth $1.2 billion in July-September 2023-24, up from $874 million in July-September 2022-23, according to TDAP data.

The biggest increase was in sesame seed exports, which jumped 427 percent to $182.2 million, mainly due to increased production after floods damaged the crop last year and higher demand from China and Japan.

Maize exports also soared 109 percent to $130 million, as global prices of food commodities rose due to the outbreak of Russian-Ukraine war. The main markets for Pakistani maize were Vietnam, Malaysia, Korea and Oman.

Ethyl alcohol exports surged 559 percent to $126.8 million, reflecting high global demand for the product, which is used as a fuel additive and a disinfectant.

Meat exports grew 16.5 percent to $112.4 million, as Pakistan opened new markets in Jordan, Egypt and Uzbekistan and increased its shipments to the UAE, Saudi Arabia and other Gulf countries. Three more slaughterhouses were approved for exporting by Malaysia and one company got access to the Chinese market for heat-treated meat.

Rice exports rose 14 percent to $407 million, benefiting from India’s rice export ban and increased production in Pakistan.

Fish and fish products exports increased 3 percent to $81.9 million, while crustaceans and molluscs exports grew 3.5 percent. The growth in seafood exports was attributed to the increase in fisheries varieties such as cuttlefish and the lifting of a ban by Qatar on imports of seafood from Pakistan.

Fruits and vegetables exports also went up 11.8 percent to $97.7 million. TDAP Chief Executive Zubair Motiwalla said that if the trend persists, the exports of agro and food products from Pakistan will cross $7 billion in the year 2023-24.