By SPA,
Islamabad : The government is planning to export 3 million tons of surplus rice during the current financial year, earning $1.8 billion, an official said.
Total exportable surplus from 2007-08 rice crop is estimated at 3 million tons, Qadir Bux Baloch, Agriculture Development Commissioner, said.
He added that out of 3 million tons exportable rice 1 million tons Basmati and 2 million tons Irri would earn foreign exchange of $1 billion and from basmati while US $ 0.8 billion from other rice.
He said that the rice was cultivated on about 2.5 million hectares of land with production of 5.5 million tons.
Baloch said that Pakistan produces about 2.5 million tons of world class famous aromatic basmati rice and due to its superior quality Pakistan Basmati fetches the highest prices in the international market.
The year 2007-08 is characterized with record high prices of rice fetched by Pak Basmati at US $ 1100/tonne.
The official said that Basmati rice is a rich source of foreign exchange earning.