Palm Oil Imports up 31.89 percent in May, 2018

According to the latest data released by Pakistan Bureau of Statistics (PBS), total Food Imports during the month of May clocked in at $498.878 million; posting an incline of 2.67 percent from April’s imports of $485.897 million.

Compared to that, year on year growth in the Food Imports decreased by 12.74 percent during the month of May. The total imports during the month of May 2018 against May 2017 grew by $57.952 million.

Food products imported from Pakistan mainly include Milk and cream, Unmilled Wheat, Dry Fruits, Tea, Spices, Soya bean Oil, Palm Oil, Sugar, Pulses and other food items.

Source : Pakistan Bureau Of Statistics

The major chunk of imports under the Food sector was mainly from the Palm Oil which contributed a total of 31.89 percent of the entire imports. Total Palm Oil imported during the month of May, 2018 clocked in by $159.112 million shrank by 5.07 percent same month last year.

PBS data reveals the second major chunk of imports under the Food head was mainly from the Pulses which contributed a total of 8.02 percent of the entire import payments. Pulses imported during the month of May, 2018 clocked in at $40.018 million drop by 48.53 percent same month last year.

Furthermore, month on month imports of Pulses went up by 14.98 percent during May, 2018 with a year on year decrease by 48.53 percent.

Tea imports clocked in at $31.036 million, decrease by 26.22 percent on month on month basis with an 8.59 percent increase on year on year basis.