Home ECONOMY Soyabean, palm oil imports increase in first quarter

Soyabean, palm oil imports increase in first quarter

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Soyabean, palm oil imports increase in first quarter

ISLAMABAD: Edible oil imports including soyabean and palm into the country during first quarter of current financial year rose by 78.11 percent and 38.53 percent respectively as compare to imports in same period last year (SPLY).

During the period from July-September 2017-18 about 101,094 metric tons of soyabean oil valuing US$ 77.155 million were imported to fulfill demand as compared to imports of 24,485 metric tons worth of US$ 43.297 million in SPLY.

According to data released by Pakistan Bureau of Statistics, about 721,097 metric tons of palm oil costing US$ 510.308 million was imported in first three months compared to import of 542,145 metric tons valuing US$ 368.383 million in SPLY.

Meanwhile, tea imports into the country during first quarter also grew by 2 percent and touched US$ 77.115 million against import of US$ 134.448 million in SPLY.

Around 48,794 metric tons of tea imported during last three months as compared the imports of 54,962 metric tons of same period last year.

In last three months of current financial year, about 49,330 metric tons of spices worth US$ 46.439 million were imported compared to imports of 34,322 metric tons valuing US$ 30.631 million in SPLY.

In first quarter, food group imports into the country registered increase of 19.35 percent and stood at US$ 1.622 billion compared to imports of US$ 1.359 million in SPLY.

On the other hand, exports of the food group grew by 17.52 percent against exports in SPLY.

Food Commodities worth US$ 742.391 million were exported during the period from July-September 2017-18 against exports US$ 631.731 million in SPLY.