Pakistan: Soyabean, palm oil imports grew 53.07%, 28.55% in 09 months

Edible oil imports including soyabean and palm into the country during the first three quarters of the current financial year increased by 53.07 per cent and 28.55 per cent respectively as compared to the imports of the corresponding period of the last year.

During the period under review, about 200,191 metric tons of tea worth $495.217 million were imported in order to fulfil the local requirements as compared to the imports of 177,553 metric tons valued at $434.938 million of the same period of last year.

During the period from July-March 2023-24, the country spent $2.084 billion on the import of about 2.263 million metric tons of palm oil as compared to the imports of 2.381 million metric tons valued at $2.197 billion of the same period of last year.

Meanwhile, 107,705 metric tons of soyaban oil worth $116.069 million were imported as compared to the imports of 173.020 metric tons valued at 247.302 million, according to the data of the Pakistan Bureau of Statistics.

During the first three-quarters of the current financial year, the food group exports from the country grew by 48.17 per cent as food commodities worth $5.651 billion were exported as compared to the exports of $3.814 billion in the same period of the last year.

On month on month basis, the food group exports from the country grew by 16.35 per cent in month of March 2024 as compared to the exports of the same month of last year.

In March 2024 food commodities valued at 685.025 million were exported as compared to the exports of $588.759 million of the same month of last year.

On the other hand food group imports into the country during the period under review went down by 14.23 per cent as food imports came down from $7.333 billion in the first three quarters of the last financial year as compared to the $6.290billion in the first 09 months of the current financial year.

Tags: palm oil, imports, edible oil, soyaban oil, exports, Pakistan