Domestic production of edible oil rises by 20.6% in 11 months of FY18

Domestic production of cooking oil during the 11 months of fiscal year (2017-18) grew by 20.65 %, whereas that of vegetable ghee decreased by 0.40 percent as compared to the corresponding period of last fiscal year.

During the period from July-May, 2017-18, domestic production of vegetable ghee was recorded at 1.116 million tons, down from where it stood at 1.171 million tons in the same period of last year, according the Quantum Index Number of Large Scale Manufacturing Industries released by the Pakistan Bureau of Statistics (PBS). Domestic production of cooking oil, on the other hand, grew by 20.65 percent as it was recorded at 429,652 metric tons as against the 356,120 tons produced during the same period of last year.

On a month on month basis, in May 2018, the production of vegetable ghee was recorded at 117,080 tons as against the production of 113,789 tons during the same month last year. Similarly, a total of 44,150 tons of cooking oil was produced in May 2018 as compared to the production of 35,799 tons during the same month last year.            

It should be mentioned that the overall Large Scale Manufacturing Industries (LSMI) of the country witnessed a growth of 6 percent during the first eleven months of the current fiscal year compared to the corresponding period of last year.

The country’s LSMI Quantum Index Numbers (QIM) was recorded at 149.19 points during July-May (2017-18) against 140.75 points during July-May (2016-17), depicting a growth of 6 per cent.

The highest growth of 3.62 percent was witnessed in the indices monitored by Ministry of Industries, followed by 1.58 percent growth in the products monitored by Provincial Bureaus of Statistics (PBS) and 0.80 percent growth in the indices of Oil Companies Advisory Committee (OCAC).

On a year-to-year basis, the industrial growth increased by 2.76 percent during May 2018 as compared to same month of last year, however, on a month-to-month basis, the industrial growth decreased by 11.63 percent in May 2018 when compared to April 2018, PBS data revealed.

(APP)