Soyabean, palm oil imports increase 52.75pc, 31.69pc in August

ISLAMABAD: Edible oil including soyabean and palm oil imports into the country during the moth of August, 2017 increased by 52.75 percent and 31.69 percent respectively as compared the corresponding month of last year.

About 23,768 metric tons of soyabean oil worth US$ 18.270 million was imported during the month of August, 2017 as compared the import of 8,171 metric tons valuing US$ 11.961 million of same month of last year.

According the data of Pakistan Bureau of Statistics, palm oil import into the country during the period under review also grew by 31.69 percent and reached at US$ 183.016 million as against the import of US$ 138.976 million of same period last year.

About 259,004 metric tons of palm oil imported into the country to fulfill the domestic requirements during the period under review as compared the imports of 204,325 metric tons of same months of last year.

The imports of edible oil into the country during first two months of current financial year witnessed significant increase as compared the same period of last year.

Imports of soyabean oil into the country increased by 121.65 percent and reached at 79,157 metric tons worth of US$ 60.433 million as compared the imports of 19,308 metric tons valuing US$ 27.265 million of same period last year.

Meanwhile, about 503,675 metric tons of palm oil valuing US$ 359.616 million imported in first two months of current financial year as compared the imports of 355,052 metric tons valuing US$ 243.747 million of same period last year.

It may be recalled that food group imports into the country during first two months of current financial year grew by 27.18 percent.

During the period under review, food commodities worth US$ 1.123 billion imported as compared the imports of US$ 883.156 million of same period last year.