R. Shahnawaz Janjua, Consultant, American Soybean Association (ASA), said that the association expects the production of sun seed be around 450,000 tons in Pakistan which means availability of around 170,000 tons sunflower oil this year (January to December 2004).
Addressing a seminar on "the efficient refining of vegetable oils" organised by American Soybean Association in collaboration with Pakistan Vanaspati Manufacturers Association (PVMA) at a local hotel on Tuesday, he said since Pakistan have maple crushing capacity in Pakistan and there is not enough local production of oilseed, government has motivated the solvent extracting industry to import oilseeds by reducing the tariff.
He said the revision in duty structure from the year 1999-2000 has completely changed the import scenario of oilseeds.
Pakistan, which was not importing any oilseed prior to the year 1999, took off at jet speed in the following years and now the import of oilseeds have touched around one million tons in the year 2003.
He foresee that in the year 2004 (Jan to Dec 2004), Pakistan market will remain very much consistent and will maintain the import volume of around 1.4 million tons from Malaysia and Indonesia.
Out of this, 75 percent will be RBD palm olien and balanced will comprise of RBD palm oil and CPO. However, CPO imports very much depends on the price differential between RBD palm olien and CPO ie, minimum of 40 dollars per metric ton.
As far as soft oil is concerned, he said, unless Pakistan receive any other aid, grant from its well-wishers, he do not foresee Pakistan importing more than 100,000 metric ton of soya oil, if the price difference between palm and soya is more then 100 dollars.
Asif Nusrat Ansari, Works Manager, Unilever Private Ltd, also spoke on the occasion.