ISLAMABAD: Imports of edible oil including soybean and palm into the country during the first 8 months of the current financial year have decreased by 48.10 percent and 32.47 percent as compared to the imports during the corresponding period last year.
During the July-February period, the country’s palm oil imports in 2023-24 decreased from $2.681 billion to $1.810 billion as more than 1.959 million metric tons of palm oil were imported compared to imports of 1.115 million metric tons in the same period. last year, according to the Pakistan Bureau of Statistics.
Meanwhile, about 97,455 metric tons of soybean oil worth $105.664 million were imported compared to imports of 140,120 metric tons worth $203.578 million, a negative growth of 48.10 percent, he added.
However, month-on-month imports of soybean oil increased by 35.34 percent and palm oil imported 5,505 metric tons of the above commodity valued at $5,674 million compared to imports of 3,250 metric tons valued at $4,192 million. in the same month last year.
Also, more than 224,074 metric tons of palm oil worth $199,078 million were imported in February 2024 compared to imports of 223,296 metric tons worth $234,568 million in the same period last year.
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It is worth noting here that the exports of the food group from the country in the first 8 months of the current financial year have increased by 54.05 percent compared to the exports in the same period last year.
Various food commodities worth US$ 4.969 billion were exported during July-February 2023-24 compared to exports of US$ 3.225 billion in the same period of the previous year.
Exports of food commodities increased by 35.38 percent during the month of February 2024 as various food commodities worth US$ 702.469 million were exported compared to exports of US$ 518.871 million in the same month last year.
Meanwhile, imports of food commodities into the country in the first 8 months of the current financial year fell by 18.33 percent compared to imports during the same period last year. Imports of food commodities fell from USD 6.687 billion to USD 5.461 billion during the period under review.
On a month-on-month basis, imports of the food group increased by 5.12 percent in February 2024 as food goods worth $739.819 million were imported compared to imports of $703.722 million in the same month last year.
