The domestic rice market has shown signs of stability as export demand continues to support prices. The rate for IRRI-6 rice has improved from PKR 80 per kg to around PKR 83 per kg, reflecting stronger buying interest driven by active export shipments.
Currently, the vessel Despina K is at port and in the process of loading rice for export. So far, approximately 4,000 metric tons have been loaded, with the remaining 20,000 metric tons scheduled to be completed in the coming days. The loading operation began on November 3, and within just two days, 4,000 tons have been loading indicating a brisk pace of activity.
Moreover, market sources suggest that two additional vessels are expected to be loaded during November, further strengthening export momentum. This surge in export activity has encouraged traders to remain active buyers, helping maintain market firmness and preventing a price decline.
On the production side, rice harvesting in Punjab is nearing completion, with approximately 75% of the crop already harvested. However, most of this harvested crop is still in paddy form and has not yet reached the market as milled rice. The conversion to rice is expected to take place in November, and when it enters the market, it may exert some downward pressure on prices.
