Exports of spices rise by 11.77 percent

KARACHI: The exports of spices from the country witnessed an increase of 11.77 percent during the first eleven months of the fiscal year against the exports of the corresponding period of last year.

According to a statement, the spices exports from the country were recorded at 83.081 million dollar during July-May 2018-19 against the exports of 74.333 million dollar during July-May 2017-18.

In terms of quantity, the exports of spices witnessed an increase of 9.79 percent by going up from 19,511 metric tons to 21,421 metric tons, according to the data. Meanwhile, on-year-on-year basis, the export of spices, witnessed an increase of 1.89 percent during the month of May 2019 when compared to the same month of last year.

On the other hand, the State Bank of Pakistan (SBP) on Friday injected 465 billion rupees into money market for one week as reverse repo purchase through its open market operation.

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Eighteen bids of 571.5 billion rupees were offered, of which 11 of 465 billion rupees were accepted. The rate of return accepted is 13.34 percent a year, said a SBP press release.