Soyabean oil imports increase 71.93pc in 5 months

ISLAMABAD: Edible oil imports including soyabean and palm oil during five months of current financial year grew by 71.93 percent and 29.24 percent respectively as compared the corresponding period of last year.

Soyabean oil imports into the country during first five months of current financial year increased by 71.93 percent as compared the imports of the corresponding period of last year.

During the period from July-December, 2017-18 109,366 metric tons of soyabean oil worth of US$ 98.519 million imported to fulfill the domestic requirements as against the import of 37,845 metric tons valuing US$ 57.303 million of same period last year.

Meanwhile, imports of palm oil into the country grew by 29.24 percent as about 1,196,824 metric tons of palm oil valuing US$ 885.832 million imported as compared the imports of 987,623 metric tons worth of US$ 669.943 million of same period last year, according the data of Pakistan Bureau of Statistics.

However, the imports of leguminous vegetables (pulses) during the period under review decreased by 25.72 percent and it was recorded at 246,615 metric tons valuing US$ 214.325 million as compared the imports of 331,271 metric tons costing US$ 288.529 million of same period of last year.

It may be recalled that food group imports into the country on month basis also grew by 1.38 percent in November, 2017 as compared the same month of last year.

Food commodities worth of US$ 520.127 million were imported in last month as compared the imports of US$ 513.071 million of same period of last year.

On the other hand food group exports from the country witnessed 12.05 percent growth as compared the exports of the corresponding period of last year.

During the period from July-November, 2017-18 food commodities worth of US$ 1.491 billion exported as against the exports of US$ 1.319 billion of same period of last year.