Food exports surges by 32% YoY in Sept’21

October 18, 2021 (MLN): The trade value of food exports from the country in September’21 stood at around $359.33million, showing a strong surge of 32% YoY from $272.16mn in September’20.

On a sequential basis, the export volume of this group moved up by 10.8% compared to the same period last year.

The overall contribution of this group remained around 15% of the total exports during September’21, as per the latest data revealed by the Pakistan Bureau of Statistics (PBS).

Commodity-wise, Rice remained to be the major source of foreign exchange earnings during the month as the volume of its exports valued at $142.93mn, increased by 27.41% YoY. However, on a mom basis, the same product witnessed a meager increase in the export volume, up by only 1.75%.

The export of fish & fish preparations surged by 3x MoM, stood at $32.01mn, whereas, on yearly basis, the export volume has dropped by 14.70%.

Meanwhile, the export volume of meat and meat preparations clocked in at $28.73mn, jumped by 20.72% YoY while, on MoM basis, the export volume of similar products expanded by 12.77%.

Vegetable exports went through a bleak phase during the month as the export volume of vegetables plummeted by 40.53% MoM while, on a YoY basis, the export volume of the same commodity fell by 41.44% to stand at 12.4mn. On the contrary, the exports of fruits increased by 19.95% YoY, whereas on MoM basis, the exports volume has plunged by 30.82% compared to the same period last year.

 On the import side, the total import bill of the food group amounted to $890.75mn, depicting a surge of 21.77% on a YoY basis against September’20.

Collectively, the group accounted for almost 13.5% of the total imports during September’21.

As per the data, the import bill of Wheat is clocked in at Rs82.91mn, dipped by 10.15% YoY compared to September’20. However, on the monthly basis, the import bill of wheat inflated by 5x.

The data further revealed that import of Palm Oil valued at $314.13mn, showcasing an increase of 38.82% YoY, whereas, on MoM basis, the import bill of palm oil has dropped by 2.75%.

Moreover, the import bill of milk, cream, and milk food for infants positioned at $13.29mn, during the said period, plunged by 9.25% YoY. However, on the monthly basis the import bill of milk inflated by 37.38.

The import bill of tea decreased by 11.10% YoY and 22.54% MoM to stand at $48mn.  

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