This research investigates the WTO reforms and Rice market in Pakistan. Data were collected from the Primary as well secondary sources of the Rice producing countries, and data were analysis by using SPSS-18 version, A structural questionnaire was developed for reliability and validity of the data. It was revealed that from the last five years there is no visible impact on export laid growth but from last three years price shocks was observed in Pakistan, due to increases in the world rice market by 200 percent in various Asian countries. Consumers are facing the price shock problem in Pakistan and world Rice market the statistical results were similar for the alternative specification of gross margins and prices as the economic decision available. However, the price elasticities derived using the gross margins specification were about a third of those using the prices specification. The gross margin specification yielded additional information in the form of yield and input cost elasticities. The analysis indicates that there are lags which are due primarily to the difficulties and cost of rapid adjustment rather than to the time required to revise expectations. The statistical results were similar for the alternative specification of gross margins and prices as the economic decision available. However, the price elasticities derived using the gross margins additional information in the form of yield and input cost elasticities