Soyabean, palm oil import reduce by 52.28%, 10.19%

F.P. Report

ISLAMABAD: The import of edible oil including soyabean and palm into the country during first half of current financial year reduced by 52.28 percent and 10.19 percent respectively as against the imports of the corresponding period of last year.

During the period from July-December, 2018-19, country import 65,854 metric tons of soyabean oil valuing $48.756 million as compared the 114,131 metric tons worth of $102.162 million of same period of last year, which was down by 52.28 percent, according the data of Pakistan Bureau of Statistics.

Meanwhile, country imported about 1.506 million tons of palm oil valuing $931.659 million as compared the import of 1.378 million tons worth of $1.037 billion during same period of last year, which was down by 10.19 percent, it added.

However, during the period under review, tea imports into the country registered 6.37 percent growth as about 115,506 metric tons of the tea costing $301.717 million imported to fulfill the domestic requirement as against the import of 90,844 metric tons valuing $283.648 million of same period of last year.

On month on month basis, import of soyabean oil increased by 115.85 percent and about 10,959 metric tons worth of $ 7.724 million imported as against the 4,741 metric tons valuing $3.646 million of same month of last year.

In December, 2018, country spent $144.979 million on the import of about 252,662 metric tons as compared the $171.550 million and 242,340 metric tons of corresponding month of last year.

It may be recalled that imports of food commodities during first half of current financial year reduced by 8.49 percent as it came down form $3.242 billion in July-December, 2017-18 to $2.996 billion of same period of financial year 2018-19.