Soyabean, palm oil imports reduced by 93.20% and 13.99% in July
In July 2024, Pakistan saw a significant decline in edible oil imports: palm oil fell by 93.20%, and soybean oil by 13.99%. The country imported 1,000 metric tons of palm oil worth $1.017 million, down from 12,575 metric tons valued at $14.995 million the previous year. Food exports increased by 44.77% to $475.767 million, while food imports decreased by 18.30% to $510.449 million. Imports of milk, tea, sugar, and pulses also dropped significantly.
ISLAMABAD, Aug 19 (APP):Edible oil including soybean and palm into the country during the first month of the current financial year decreased by 93.20 percent and 13.99 percent respectively as compared to the imports of the corresponding period of the last year.
During the month of July 2024 about 1,000 metric tons of palm oil costing $1.017 million were imported as compared to the imports of 12,575 metric tons valued at $14.995 million in the same month of the last year, according to the data of Pakistan Bureau of Statistics.
Meanwhile, the palm oil imports into the country during the first month of the current financial year were recorded at 256,460 metric tons valued at $1.0717 million. The palm oil imports during the first month of last year were recorded at 277,801 metric tons costing $278.939 million, it added.
Food group exports from the country during the first month of the current financial year grew by 44.77 percent as compared to the exports of the corresponding month of the last year.
During July 2024, food commodities valued at $475.767 million were exported as compared to the exports of 328.632 million in the same month of the last financial year.
However, the food group imports into the country during the first month of the current financial year went down by 18.30 percent and were recorded at $510.449 million as against the imports of $624.804 million of the corresponding period of the last year.
The imports of other commodities, which posted negative growth during the period under review including milk, milk cream, and milk for infants decreased by 27.37 percent, tea by 26.68 percent, sugar by 44.90 percent, and pulses by 22.90 percent.
Source Link : https://www.app.com.pk/business/soyabean-palm-oil-imports-reduced-by-93-20-and-13-99-in-july/
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