Pakistan’s Rice Exports Remain Stable Despite India’s ‘Cheap’ Alternative

Pakistan’s rice exports remained stable despite India’s heavily subsidized return to global markets in October 2024, following a two-year export ban. Pakistan exported 5.544 million tons of rice in the first 11 months of FY25, just 0.87 percent below the 5.593 million tons in the same period last year. India’s export pricing, particularly for 25 percent broken non-Basmati rice at $349 per ton, remains the lowest globally. This undercuts Pakistan ($365), Thailand ($376), and Vietnam ($362). New Delhi is offering subsidized rice to get ahead of the market. Still, India’s exports fell 50 percent year-on-year in April–May 2025, amid domestic criticism over policy missteps, large stockpiles, and diversion of rice to ethanol. Meanwhile, Pakistan also faces supply constraints. A 3.7 percent drop in Kharif 2024 rice output has reduced stocks, with exports for the final quarter (April–June 2025) projected to fall by 15 percent. Exporters in Pakistan continue to monitor global developments, banking on disciplined quality and market targeting to protect their share.