Palm, soyabean oil imports decrease 2.43pc, 0.40pc in 8 months

ISLAMABAD: The import of edible oil including palm oil and soyabean oil in the country during last 8 months of current financial year registered decrease of 2.23 percent and 0.40 percent respectively as compared to corresponding period of last financial year.

During the period from July-February 2014-15, the import of palm oil decreased by 2.23 percent as its import in the country was recorded at 1,556,326 metric tons worth of US$ 1.201 billion.

As compared to the period under review, the import of palm oil during the same period of last financial year was recorded at 1,497,049 metric tons valuing US$ 1.228 billion.

According the data of Pakistan Bureau of Statistics (PBS), the import of soyabean oil also witnessed decreasing trend during the period under review as its import reduced by 0.40 percent.

During last 8 months of current financial year, country import about 38,137 metric tons of soyabean oil to fulfill its domestic requirements of edible oil and spent US$ 0.3724 million, the data reveled.

Meanwhile, on month on month basis, the import of soyabean oil witnessed significant decrease of 13.60 percent during the month of February as compared to the previous month.

Import of soyabean oil was decreased by 90 percent in month of February, 2015 as compared to imports of the same month of last financial year, the data added.

However, the import of palm oil registered increase of 12.37 percent on month on month basis during the month of February, 2015 as compared to month of January.

As compared to February, 2014, the palm oil import in the country decreased 8.34 percent when it compared to the same month of current financial year, the data reveled.

It may be recalled that on month on month basis over all food group import in the country decreased by 5.31 percent as compared to the same month of last financial year.

Meanwhile, the food group import in the country during first 8 months of current financial year recorded 26.61 percent increase as against the same period of last financial year.