Pakistan. Imports of edible oil reduced in 1Q

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The imports of edible oil into the country like soyabean and palm during first quarter of financial year 2018-19 reduced by 70.47 percent and 4.82 percent respectively as compared the corresponding period of last year.

During the period from July-September, 2018 import of soyabean oil into the country decreased by 70.47 percent and it was recorded at $22.769 million as compared to $77.113 million of same period of last year. About 29,858 metric tons of soyabean oil imported in first three months of current financial year as compared the import of 82,085 metric tons of same period last year.

Meanwhile, import of palm oil into the country also reduced by 4.82 percent as it was recorded at $485.715 million in first quarter of 2018-19, which was stood at $510.303 million of corresponding period of last year, it added. On month on month basis, the import of soyabean witnessed negative growth of 25.93 percent in September, 2018, whereas palm oil import into the country grew by 12.78 percent, the data reveled.

During month of September, 2018 about 247,410 metric tons of palm oil costing $169.953 million imported to fulfill the domestic consumptions as against the import of $150.689 million of same period of last year.

During last month, the import of soyabean oil reduced by 25.93 percent as country spent $12.355 million on the import of about 16,309 metric tons of soyabean oil as against the import of 21,937 metric tons worth $16.680 million of same period of last year.

It may be recalled that during first quarter of current financial year, food group import into the country reduced by 10.31 percent and reached at $1.454 billion as compared the imports of $1.621 billion of the same period of last year.

On the other hand, food group exports increased by 16.93 percent and country earned US$ 865 million by exporting the different food commodities as against the exports of US$ 740 million of same period of last year.

The Nation