Edible Oil Imports

ISLAMABAD, (UrduPoint / Pakistan Point News - 22nd Mar, 2024) The imports of edible oil including soyabean and palm into the country during the first 08 months of the current financial year decreased by 48.10 percent and 32.47 percent respectively as compared to the imports of the corresponding period of the last year.

During the period from July-February, 2023-24 palm oil imports into the country went down from $2.681 billion to $1.810 billion as over 1.959 million metric tons of palm oil were imported as compared to the imports of 1.115 million metric tons of the same period last year, according to the data of the Pakistan Bureau of Statistics.

Meanwhile, about 97, 455 metric tons of soyabean oil valued at $105.664 million were imported as compared to the imports of 140,120 metric tons costing $203.578 million, showing negative growth of 48.10 percent, it added.

However, on the month on month basis, the imports of soyabean oil increased by 35.34 percent, and palm oil 5,505 metric tons of above above-mentioned commodity valued at $5.674 million were imported as compared to the imports of 3,250 metric tons costing $4.192 million of the same month of last year.

In February 2024 over 224,074 metric tons of palm oil valued at $199..078 million were also imported as against the imports of 223,296 metric tons valuing $234.

568 million in the same period of last year.

It is worth mentioning here that the food group exports from the country during the first 08 months of the current financial year grew by 54.05 percent as compared to the exports of the corresponding period of last year.

During the period from July-February, 2023-24, different food commodities worth $4.969 billion were exported as compared to the exports of 3.225 billion in the same period of the previous year.

The exports of food goods during the month of February 2024 grew by 35.38 percent as different food commodities worth $702.469 million were exported as compared to the exports of $518.871 million in the same month of the last year.

Meanwhile, the imports of food commodities into the country during the first 08 months of the current financial year decreased by 18.33 percent as against the imports of the corresponding period of last year. The imports of food commodities during the period under review came down from $6.687 billion to $5.461 billion.

On month on month basis, the food group imports grew by 5.12 percent in February 2024 growth as food goods valued at $739.819 million were imported as compared to the imports of 703.722 million in the same month of last year.