Edible oil imports including soyabean, palm reduced by 21%, 9.6% in FY19

Jul 23: The imports of edible oil including soyabean and palm into the country during last financial year witnessed negative growth of 21.04% and 9.57% respectively as compared the imports of the corresponding period of last year.

During the period from July-June, 2018-19, import of soyabean oil into the country reduced by 21.04% and was recorded at US$107.386 million as compared the US$136.00 million of same period of last year, according the data of Pakistan Bureau of Statistics.

About 150,912 metric tons of soyabean oil imported in last year to fulfill the domestic requirements as against the import of 156,718 metric tons of same period of last year.

Meanwhile, import of palm oil came down from US$2.038 billion in financial year 2017-18 to US$1.884 billion in the year 2018-19, showing reduction of 9.57% on year on year basis.

About 3,147,549 metric tons of palm oil imported in 12 months of the year 2018-19 as against the import of 1,843,351 metric tons of same period of last year.

During the period under review, over all food group imports into the country decreased by 8.35% as it came down from US$6.184 billion to US$5.668 billion.

During the period under review, imports of milk, cream and food for infants reduced by 16.64% and it was reached to US$230.187 million as against US$276.125 million of same period the last year.

In 12 months of last financial year about 94,165 metric tons of the above mentioned commodities imported as against 99,760 metric tons of the same period of last year.

Meanwhile, the imports of dry fruits, nuts and others came down by 56.84% as 25, 247 metric tons of dry fruits and nuts valuing US$43.036 million imported as compared the imports of 70,219 metric tons worth of US$99.709 million of same period last year.

However, the imports of tea into the country grew by 3.59% as country consumed tea worth US$571.691 million as compared the consumption of 551.879 million of same period last year.

In last financial year about 223,054 metric tons of tea imported to fulfill the domestic requirements as compared the import of 181,853 metric tons of same period of last year.

The spices import during the period under review also decreased by 2.77% as about 138,579 metric tons costing US$162.493 million imported as compared the imports of 135,755 metric tons valuing US$167.126 million of same period of last year.

The imports of pulses during the period under review also reduced by 5.40%, where as the data reveled that the imports of the other food items during last year decreased by 7.37%.

APP