Pakistan’s sesame seed exports to China surged to $59.09 million in the first nine months of current calendar year, showing a growth of 50% year-on-year, according to data of the General Administration of Customs of People’s Republic of China (GACC).
Data received by Pakistan from the GACC showed that China imported 39,533.855 tons of sesame seeds, an increase of 22% by volume, worth $59.09 million while last year in the same period it imported 32,487 tons worth $39.44 million.
January was the best month for sesame seed exports as Pakistan shipped 26,658.61 tons worth $39.89 million to China followed by September when exports stood at 5,563.45 tons worth $8.66 million.
Pakistan Embassy Commercial Counsellor Ghulam Qadir told China Economic Net (CEN) that recently sesame seed exports increased due to China-Pakistan Free Trade Agreement and good prices in the Chinese market.
“We will try to take Chinese investors to Pakistan to help them set up factories having latest technologies so that we are able to produce processed items of this product, which will further enhance Pakistan’s exports to China and the rest of the world,” he added.
The commercial counsellor said that Pakistan’s government was providing many incentives to the Chinese investors, adding that transferring technologies and shifting or setting up factories was the only way that could reduce Pakistan’s trade deficit and increase exports.
Agricultural expert Ali Rizwan told CEN that the government of Pakistan introduced new crops, especially in 2016.
The national oilseed enhancement programme was launched in Punjab and then at the federal level, which helped farmers to export their crops. These are fast cash and well-paid crops.
“There are two big advantages of the Chinese market; first the price is good as compared to the domestic market. Second, the market is very big, if you get any order, mostly it is very difficult for one exporter to meet the order,” he stated.
Data showed that overall China imported 891,238.599 tons of sesame seeds worth around $1.35 billion from different parts of the world.
THE ARTICLE ORIGINALLY APPEARED ON THE CHINA ECONOMIC NET
Published in The Express Tribune, November 13th, 2022.
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