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Iranian rice importers to visit Pakistan today to secure import deal

Iranian rice importers to visit Pakistan today to secure import deal

LAHORE: Iranian Rice Importers Association delegation comprising 19 people is coming to Lahore to visit different rice farms, factories and laboratories from November 26 to 28. The delegation intends to increase the Pak-Iran mutual rice trade and seek opportunities for quality rice. The delegates would focus on assessing health certifications in Pakistani rice factories.

They will also get engaged with the banking authorities in Pakistan in sorting out various banking issues, including payment mechanism.

Iran has emerged as the largest importer of rice in the world, as it imports around 11 percent of the world rice worth $2.5 billion, the statement said. According to the International Trade Centre, the demand for rice in Iran has doubled during 2012-13 and in the last five years, import of rice grew more than 35 percent. Hence, there exists a huge opportunity for the exporters of Pakistani rice.

Presently, almost 90 percent of rice is from India although import from Pakistan would be more economical, it said.

Pakistan is the fourth largest exporter of rice in the world with exports of more than $2 billion.

This high-level delegation is an opportunity to maximise the huge potential of trade between Pakistan and Iran.

Rice exporters are hopeful the visit will help them penetrate in the Iranian market. The Iranian delegation is being facilitated by the Trade Development Authority of Pakistan.