December 18, 2021 (MLN): The trade value of food exports from the country in November’21 stood at around $514.7 million, registering a surge of 26.44% YoY and 25.58% MoM from $407.08mn in November’20 and 413.036mn in October’21, respectively, data revealed by Pakistan Bureau of Statistics showed on Friday.
The overall contribution of this group remained around 18% of the total exports during Novemnber’21.
Commodity-wise, Rice remained the primary source of foreign exchange earnings during the review period as its exports, valued at $231.615mn, jumped by 35% MoM. In contrast, the exact product witnessed a meager increase of o.5% yearly.
The export of fish & fish preparations climbed by 37% MoM and 21% YoY to stand at $9.36mn.
Meanwhile, the export volume of meat and meat preparations clocked in at $29.156mn, up by 10.96% MoM. On the other hand, the export volume of similar products dropped by around 8% compared to $31.67mn in November’20.
Vegetable exports’ have seen a threefold increase as the export volume of vegetables reached $33.268mn in November’21 compared to $10,12mn in November’20. Similarly, the group portrayed a strong growth of 84% MoM.
During 5MFY22, the total of the group has moved up by 27% YoY to stand at $1.9 billion, compared to $1.53bn in 5MFY21.
This notable surge in vegetable export reflects the government’s effective policies and incentives for the robust development of the agriculture sector.
On the import side, the total import bill of the food group amounted to $888mn, depicting an increase of 31% YoY and 16.4% MoM, compared to $736.6mn and 763mn, respectively.
Collectively, the group accounted for almost 11.20% of the total imports during November’21.
The data further revealed that import of palm oil valued at $390mn, showcasing an enormous surge of 83% YoY, while on an MoM basis, the import bill has moved up by 58%.
Moreover, the import bill of milk, cream, and milk food for infants inflated twofold in November’21, compared to$9.94mn in October’21. Likewise, the import bill of the same expanded by 68% YoY to clock at $16.726mn.
The import bill of tea inflated by 48.34% MoM and 24.5% YoY to stand at $55.13mn.
Cumulatively, the import bill of the group has soared by 33% YoY to stand at $4bn during 5MFY22, compared to $3bn in 5MFY21.
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