Edible oil imports decrease in six months


ISLAMABAD: Edible oils including soyabean and palm imports in the country during first two quarters of current financial year witnessed decreasing trend of 27.24 percent and 11.47 percent respectively.

Soyabean oil import in the country during the first six months of current inancial year shrank by 27.24 percent and reached at 30,825 metric tons which was recorded at 34,379 metric tons during the same period of last financial year.

According the data of Pakistan Bureau of Statistics, during the period from July-December 2013 soyabean oil import in the country was recorded at US$ 32.192 as compared to the imports of 44.243 million in same period of last year.

Meanwhile, palm oil import in the country also decreased by 11.47 percent as the country spent US$ 906.872 million on the import of 1,117,138 metric tons above mentioned commodity to fulfill the domestic requirements.

The import of palm oil was recorded at 1,032,521 metric tons costing US$ 1.024 billion during the first two quarters of last financial year, the data said.

On month on basis, import of soyabean and palm oil witnessed declining trend of 4.63 percent and 21.65 percent in month of December 2013 respectively.

About 152 metric tons of soyabean oil costing US$ 0.206 million imported as compared to 143 metric tons valuing US$0.216 million.

Same time, Import of palm oil during last month decreased by 21.65 percent and recorded at 152,900 metric tons valuing US$ 125.40 million as compared to 188,327 metric tons costing US$160.052 million in same month of last year.

During first two quarters of current financial year, the other commodities which observes negative growth in their imports including tea by 26.70 percent , spices by 5.92 percent and leguminous vegetables (pluses) by 26.14 percent.

According the data, overall food group imports in the country in last six months of current financial year decreased by 6.98 percent and recorded at US$ 2.011 billion as compared to US$ 2.16 billion of same period of last year.