Food imports dip over 24pc in 1st Quarter

• The food imports during first 1QFY19 dipped by 24.78 percent.
• Pakistan imported food commodities worth $1096.946 million during July-September (2019-20).

ISLAMABAD: The food imports into the country during first quarter of current financial year (2019-20) dipped by 24.78 percent as compared to the corresponding period of last year.

Pakistan imported food commodities worth $1096.946 million during July-September (2019-20) as compared to the imports of $1458.396 million during July-September (2018-19), showing negative growth of 24.78 percent, according to the latest data of Pakistan Bureau of Statistics (PBS).

During the period under review, imports of milk, cream and milk food for infants reduced by 41.88 percent as 11,297 metric tons the commodity worth $ 30.337 million was imported as compared the imports of 17,827 metric tons, valuing $52.194 million during last year, it added.

Meanwhile, tea imports decreased by 31.05 percent as about 45,531 metric tons worth $102.231 million was imported as compared to the imports of 54,766 metric tons valuing $148.270 million.

During the period under review, sugar imports also came down by 18.16 percent as about 1,219 metric tons of sugar valuing $685 million were imported compared the imports of 1,625 metric tons worth $837 million.

However, during the first quarter imports of soya bean oil witnessed unprecedented increase of 40.88 percent as about 46,227 metric tons of the oil worth $32.071 million was imported as against the imports of 29,761 metric tons valuing of $22.764 million.

The spices import during the period under review also increased by 0.45 percent, as about 33,240 metric tons of the commodity costing $40.881 million was imported as compared the imports of 37,699 metric tons valuing US$40.699 million.

Meanwhile, the imports of palm oil went down by 25.38 percent in first quarter as it was recorded at 671,774 metric tons costing $362.435 million compared to the imports of 744,619 metric tons valuing $485.715 million.

The other commodities which witnessed negative growth in their respective imports during the period under review included pulses, imports of which decline by 22.37 percent and other food items which decreased by 26.48 percent.

On year-on year basis, the imports of food group also reduced by 20.98 percent during September 2019, when compared to the imports of the same period of last year.

The food imports during September 2019 were recorded at $399.606 million against the imports of $505.682 million in September 2018.

On month-on-month basis, the imports of food items decreased by 1.74 percent during September 2019, when compared to the imports of $406.701 million during August 2019, according to the data.

It is pertinent to mention here that the country's merchandise trade deficit plunged by 34.85 percent during the first three months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.

The trade deficit during July-September (2019-20) was recorded at $5.727 billion against the deficit of $8.791 billion during July-September (2018-19).

The exports increased from $5.374 billion during last year to $5.522 billion during the current fiscal year, showing growth of 2.75 percent.

On the other hand, the imports into the country witnessed declined of 20.6 percent by falling from $14.165 billion last year to $11.249 billion during the current fiscal year, the data revealed.