Palm oil valuing $1.111bn, soyabean $48.309mn imported in 6 months

ISLAMABAD: Imports of edible oil including soyabean and palm into the country during first half of current financial year grew by 18.36 percent and 31.98 percent respectively as compared to the imports of corresponding period of last year.

During the period from July-December, 2020-21, over 1,269,769 metric tons of palm oil costing $1.111 billion imported in order to fulfill the domestic consumption of edible oil and vegetable ghee as against the import of 1,516,180 metric tons valuing $882.420 million of same period last year.

Meanwhile, 72,756 metric tons of soyabean oil costing $48.309 million also imported for tackling with the local requirements, which stood at 59,278 metric tons valuing $40.815 million in same period of last year, according to the data of Pakistan Bureau of Statistics.

However, on month on month basis, import of soyabean oil into the country decreased by 100 percent as zero quantity of the above mentioned commodity imported during the month of November, 2020 as compared the imports of 1,725 metric tons worth $0.1138 million of same month lat year.

The import of palm oil into the country during the month under review surged by 42.55 percent as 296,346 metric tons of palm oil valuing $235.845 million imported as compared the imports of 285,679 metric tons $165.442 million of same month of last year.

It may be recalled here that food group imports into the country during fist half of financial year 2020-21 grew by 52.16 percent and reached at $3.905 billion as compared the imports of $2.566 billion of same period last year.

On month on month basis, food group imports grew 85.55 percent in November, 2020 as compared the same month of last year. Food commodities worth $886.128 million imported during the month under review as compared the imports of $477.580 million of same month of last year, the data reveled.