Import of soyabean oil decreases 32.85pc, palm oil increases 12.85pc

ISLAMABAD: Imports of edible oil including soyabean and palm into the country during previous financial year (2016-17) decreased by 32.85 percent and increased by 12.85 percent respectively as compared the corresponding period of last year.

According the data of Pakistan Bureau of Statistics, soyabean imports into the country during 12 months of financial year 2016-17 decreased by 32.85 percent as compared the same period of last year.

During the period from July-June, 2016-17, about 87,280 metric tons of soyabean oil worth US$122.785 million imported as compared the import of 141,014 metric tons valuing US$ 182.859 million of same period last year, it added.

However, during previous financial year, imports of palm oil into the country increased by 12.77 percent and it was recorded at 2,628,253 metric tons worth of US$ 1.905 billion as against the imports of 2,719,179 metric tons valuing US$ 1.689 billion of same period last year.

On month on month basis, the imports of soyabean oil into the country witnessed 16.49 percent increase as it was recorded at 9,756 metric tons valuing US$ 10.654 million in month of June, 2018 as compared the imports of 6,070 metric tons worth of 8.800 million of same month of last year.

Meanwhile, imports of palm oil into the country grew by 12.81 percent and it was recorded at 219,032 metric tons worth US$ 159.034 million as against the import of 199,104 metric tons valuing US$ 140.97 million of same period of last year, the data revealed.

It may be recalled food group imports into the country grew by 13.92 percent during previous financial year and stood at US$ 6.138 million as compared the imports of US$ 5.388 million of the financial year 2016-17.