Soyabean, palm oil imports increase by 82.19 % and 19.04 % respectively

ISLAMABAD, Feb 23 (APP): Edible oil imports including soyabean and palm into the country during last seven months of current financial year witnessed 82.18 percent and 19.04 percent respectively as compared the imports of the corresponding period of last year.

During the period from July-January, 2017-18 soyabean oil imports into the country grew by 82.18 percent as about 118.795 metric tons of above mentioned commodity valuing US$ 105.778 million imported as compared the imports of 38,254 metric tons valuing of 58.063 million of same period of last year.

Meanwhile, about 1,662,763 metric tons of palm oil worth of US$ 1.208 billion imported to fulfill the domestic requirements as compared the imports of 1,448,796 metric tons valuing US$ 1.15 million of same period last year.

The imports of soyabean during the period under review grew by 19.04 percent as compared the first seven months of last year, according the data of Pakistan Bureau of Statistics. During the period under review, about 80,171 metric tons of spices worth US$ 93.23 million imported as compared the imports of 68,965 metric tons valuing US$ 75.939 million of same period last year, showing an increase of 22.15 percent.

It may be recalled that country earned US$ 2.395 billion by exporting different food commodities during last seven months of current financial year as compared the exports of US$ 2.016 billion of the corresponding period of last year.

During the period from July-January, 2017-18, food group exports from the country grew by 18.83 percent as against the exports of same period last year. On the other hand food commodities imports into the country during the period under review grew by 9.77 percent and stood at US$ 3.777 billion as against US$ 3.441 billion of same period last year.