Imports of soyabean, palm oil reduce 9.58%, 16.28% in six months

F.P. Report

ISLAMABAD: The imports of edible oil including palm and soyabean into the country during first half of current financial year, reduced by 9.58% and 16.28% respectively as compared to the imports of the corresponding period of last year.

During the period from July-December, 2019-20 palm oil import into the country was recorded at $842.418 million as against $931.661 million of same period of last year.

During the period under review, about 1,516,181 metric tons of palm oil imported in the first half of current financial year as compared to the imports of 1,449,101 metric tons of same period of last year.

The imports of soyabean oil also reduced by 16.28% and it was recorded at 59,278 metric tons valuing $40.817 million as against 65,854 metric tons costing $48.756 million of same period of last year.

During the period under review, country also imported about 510,506 metric tons of pulses valuing $245.671 million as against 525,624 metric tons valuing $287.827 million of same period of last year.

It may be recalled here that food group exports from the country during first half of current financial year, witnessed about 10.26% growth as compared the corresponding period of last year.

Food commodities worth over $2.199 billion were exported during the period from July-December, 2019-20 as compared to the exports of $1.994 billion of same period of last year.

On other hand, imports of the food commodities into the country during the period under review registered decreased of 13.48% as it came down from $2.566 billion in the first half of last financial year to $2.556 billion in six months of current financial year, it added.

However, on month on month basis, exports of food group witnessed declining trend in December, 2019 as it was recorded at $442.073 million as against the exports of $482.399 million of same month of last year.