Food imports dip by 25% during 1QFY20

October 18, 2019: Food group imports into the country during the first 3 months of the current financial year has decreased considerably by 24.7%, whereas, exports increased by 13.98% as compared the corresponding period of last year.

Imports of the food commodities into the country during the period under review came down from US$ 1.45 billion to US$ 1billion, while exports increased from US$864 million to US$ 984.7 million, according to the latest data released by  Pakistan Bureau of Statistics (PBS).

The imports of the food commodities which recorded negative growth in their imports during the period include milk, cream & milk food for infants by 41.8%, tea by 31%, Palm oil by 25.38%, Sugar and Pulses by 18% and 22.3% respectively.

Meanwhile, the exports of food commodities which recorded an increase in their exports include basmati rice by 47.29%, fruits by 10.2%, vegetables by 21% and tobacco by 269.6% respectively.

On the other hand, the commodities which witnessed a decline in their respective exports include Wheat by 88%, Spices by 2.7% Oilseeds, Nuts and Kernels by 13.5% and Sugar by 22.9%.

During the month of September 2019, food imports into the country reduced by 1.74% compared to the previous month, whereas,  it dropped by 21%  compared to the same month last year.

While food exports on the other side during September 2019 surged by 21% MoM and 13% YoY to US$ 275 million and US$294.9 million respectively.

Copyright Mettis Link News

Posted on: 2019-10-18T16:46:00+05:00

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